Mitsubishi UFJ Trust & Banking Corp Cuts Holdings in Allegion PLC $ALLE

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Allegion PLC (NYSE:ALLE) by 33.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,639 shares of the scientific and technical instruments company’s stock after selling 37,250 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of Allegion worth $13,237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Corp purchased a new position in Allegion during the third quarter worth approximately $26,000. Sound Income Strategies LLC acquired a new position in shares of Allegion during the 2nd quarter worth approximately $32,000. CYBER HORNET ETFs LLC purchased a new position in shares of Allegion during the 2nd quarter valued at approximately $33,000. Spire Wealth Management grew its stake in Allegion by 78.0% in the 2nd quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 103 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in Allegion in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Down 0.0%

Shares of NYSE:ALLE opened at $166.91 on Wednesday. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $180.68. The stock has a market cap of $14.36 billion, a P/E ratio of 22.59, a PEG ratio of 3.05 and a beta of 1.04. The business has a fifty day moving average of $162.38 and a two-hundred day moving average of $166.54. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 1.06.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, December 16th. Allegion’s payout ratio is presently 27.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALLE shares. Barclays decreased their price objective on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 7th. Wells Fargo & Company reaffirmed a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a report on Wednesday, January 21st. Finally, Robert W. Baird increased their target price on shares of Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $174.25.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.