Lazard Asset Management LLC Purchases 133,509 Shares of Allegion plc (NYSE:ALLE)

Lazard Asset Management LLC boosted its position in Allegion plc (NYSE:ALLE) by 341.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 172,646 shares of the scientific and technical instruments company’s stock after buying an additional 133,509 shares during the period. Lazard Asset Management LLC’s holdings in Allegion were worth $22,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Douglass Winthrop Advisors LLC boosted its stake in Allegion by 0.4% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company’s stock valued at $2,911,000 after purchasing an additional 80 shares during the period. Heritage Family Offices LLP boosted its stake in Allegion by 3.2% in the 4th quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock valued at $346,000 after purchasing an additional 82 shares during the period. Waterloo Capital L.P. boosted its stake in Allegion by 1.2% in the 4th quarter. Waterloo Capital L.P. now owns 7,180 shares of the scientific and technical instruments company’s stock valued at $938,000 after purchasing an additional 83 shares during the period. IFP Advisors Inc raised its holdings in Allegion by 23.2% in the 4th quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company’s stock valued at $59,000 after acquiring an additional 85 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Allegion by 33.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock valued at $53,000 after acquiring an additional 101 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Allegion Stock Performance

NYSE:ALLE opened at $142.91 on Wednesday. The stock has a market cap of $12.30 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 3.97 and a beta of 1.02. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The stock’s 50-day moving average is $130.08 and its 200-day moving average is $132.89. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.18. The company had revenue of $941.90 million for the quarter, compared to analysts’ expectations of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 earnings per share. Equities research analysts anticipate that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, June 13th. Allegion’s dividend payout ratio (DPR) is currently 28.65%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALLE. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Robert W. Baird lifted their price objective on Allegion from $144.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Barclays boosted their price target on Allegion from $126.00 to $128.00 and gave the stock an “underweight” rating in a report on Friday, April 25th. Wells Fargo & Company lowered their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Morgan Stanley boosted their price target on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, Allegion presently has an average rating of “Hold” and a consensus price target of $140.40.

Insider Transactions at Allegion

In related news, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at $620,008.40. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of Allegion stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the transaction, the senior vice president now directly owns 10,273 shares in the company, valued at approximately $1,302,000.02. This represents a 16.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,224 shares of company stock worth $406,636. Insiders own 0.33% of the company’s stock.

Allegion Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.