Chicago Partners Investment Group LLC Buys New Shares in Allegion PLC (NYSE:ALLE)

Key Points

• Chicago Partners Investment Group LLC purchased 2,052 shares of Allegion PLC valued at approximately $288,000, marking a new position for the firm in the company's stock.
• Several institutions have increased their stakes in Allegion, with hedge funds and institutional investors owning 92.21% of the stock.
• Allegion reported a quarterly EPS of $2.04, exceeding expectations, along with a revenue of $1.02 billion, up 5.8% year-over-year.

Chicago Partners Investment Group LLC purchased a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,052 shares of the scientific and technical instruments company's stock, valued at approximately $288,000.

A number of other large investors have also bought and sold shares of ALLE. Charles Schwab Investment Management Inc. boosted its position in Allegion by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 740,233 shares of the scientific and technical instruments company's stock valued at $96,571,000 after buying an additional 4,942 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Allegion by 324.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company's stock worth $5,606,000 after purchasing an additional 32,842 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of Allegion by 284.1% in the 1st quarter. Merit Financial Group LLC now owns 8,285 shares of the scientific and technical instruments company's stock worth $1,081,000 after purchasing an additional 6,128 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Allegion by 6.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company's stock worth $15,768,000 after purchasing an additional 7,645 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Allegion by 10.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 37,648 shares of the scientific and technical instruments company's stock worth $4,912,000 after purchasing an additional 3,618 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Allegion Stock Down 0.6%

Shares of ALLE traded down $0.99 during midday trading on Friday, hitting $167.57. The stock had a trading volume of 264,324 shares, compared to its average volume of 987,145. The company has a 50 day simple moving average of $151.24 and a two-hundred day simple moving average of $138.73. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $170.11. The firm has a market cap of $14.39 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 3.64 and a beta of 1.05. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.04. Allegion had a return on equity of 42.62% and a net margin of 16.15%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. During the same quarter last year, the business posted $1.96 EPS. The company's revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts anticipate that Allegion PLC will post 7.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ALLE shares. Wells Fargo & Company raised their price target on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Barclays upgraded Allegion from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $156.00 to $163.00 in a research report on Thursday. Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. Robert W. Baird raised their price target on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Mizuho raised their price objective on Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Allegion has an average rating of "Hold" and a consensus price target of $166.75.

Insider Activity

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the sale, the senior vice president owned 8,773 shares of the company's stock, valued at $1,446,843.16. This trade represents a 30.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the sale, the senior vice president directly owned 30,023 shares in the company, valued at $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.23% of the company's stock.

Allegion Company 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.