iA Global Asset Management Inc. Buys Shares of 9,984 Allegion PLC (NYSE:ALLE)

Key Points

• iA Global Asset Management Inc. acquired 9,984 shares in Allegion PLC, representing an investment of approximately $1.3 million during the first quarter.
• Allegion's recent earnings report showed a revenue increase of 5.8% year-over-year, with an EPS of $2.04, surpassing the consensus estimate of $2.00.
• Major investment analysts have upgraded Allegion's price targets, with Robert W. Baird increasing its target from $150 to $175 while maintaining a "neutral" rating.

iA Global Asset Management Inc. acquired a new position in Allegion PLC (NYSE:ALLE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,984 shares of the scientific and technical instruments company's stock, valued at approximately $1,303,000.

Several other hedge funds also recently added to or reduced their stakes in ALLE. Wayfinding Financial LLC acquired a new stake in shares of Allegion during the first quarter worth about $30,000. Colonial Trust Co SC increased its position in shares of Allegion by 192.9% during the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 164 shares in the last quarter. Garde Capital Inc. acquired a new position in Allegion in the 1st quarter valued at about $36,000. Cary Street Partners Investment Advisory LLC increased its position in Allegion by 91.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company's stock valued at $39,000 after acquiring an additional 143 shares during the period. Finally, GeoWealth Management LLC increased its position in Allegion by 259.3% in the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock valued at $40,000 after acquiring an additional 223 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALLE has been the topic of several recent research reports. Robert W. Baird boosted their price target on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. The Goldman Sachs Group boosted their target price on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. started coverage on Allegion in a research report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price on the stock. Mizuho boosted their target price on Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Allegion has an average rating of "Hold" and a consensus target price of $165.88.

Insider Activity

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction on Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction of $634,777.08. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by company insiders.

Allegion Price Performance

ALLE traded down $0.15 during trading on Monday, reaching $163.57. The stock had a trading volume of 97,928 shares, compared to its average volume of 989,069. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 3.51 and a beta of 1.05. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $167.24. The stock has a 50 day moving average of $148.95 and a two-hundred day moving average of $137.86.

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

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.