9,984 Shares in Allegion PLC (NYSE:ALLE) Acquired by iA Global Asset Management Inc.

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. bought a new position in Allegion PLC (NYSE:ALLE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 9,984 shares of the scientific and technical instruments company's stock, valued at approximately $1,303,000.

A number of other large investors have also bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in Allegion by 1.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company's stock worth $509,313,000 after purchasing an additional 38,377 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Allegion by 6.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,147,110 shares of the scientific and technical instruments company's stock valued at $280,112,000 after buying an additional 136,638 shares during the period. Brown Advisory Inc. increased its stake in shares of Allegion by 13.2% during the first quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock valued at $279,379,000 after buying an additional 249,295 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Allegion by 24.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,089,239 shares of the scientific and technical instruments company's stock valued at $273,022,000 after buying an additional 414,595 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Allegion by 10.6% during the fourth quarter. Invesco Ltd. now owns 1,761,458 shares of the scientific and technical instruments company's stock valued at $230,187,000 after buying an additional 169,149 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Trading Down 0.6%

Allegion stock opened at $164.40 on Thursday. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. The business's fifty day simple moving average is $148.12 and its two-hundred day simple moving average is $137.39. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $167.24. The company has a market capitalization of $14.11 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 3.54 and a beta of 1.05.

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

Insider Buying and Selling

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction on 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 directly owned 8,773 shares of the company's stock, valued at approximately $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

ALLE has been the topic of several research analyst reports. Robert W. Baird boosted their target price on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Mizuho boosted their target price on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. The Goldman Sachs Group upped their price target on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Barclays upped their price target on Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $165.88.

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.

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