AE Wealth Management LLC Makes New Investment in Allegion PLC (NYSE:ALLE)

AE Wealth Management LLC acquired a new stake in shares of Allegion PLC (NYSE:ALLE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,344 shares of the scientific and technical instruments company's stock, valued at approximately $306,000.

A number of other large investors have also recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Allegion by 1.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company's stock valued at $509,313,000 after buying an additional 38,377 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Allegion by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company's stock worth $280,607,000 after purchasing an additional 41,417 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Allegion by 6.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,147,110 shares of the scientific and technical instruments company's stock worth $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% in the first quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock worth $279,379,000 after buying an additional 249,295 shares during the period. Finally, Lord Abbett & CO. LLC raised 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 acquiring an additional 414,595 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Bank of America raised shares of Allegion from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $110.00 to $175.00 in a research note on Tuesday. Mizuho upped their price objective on shares of Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Morgan Stanley increased their price target on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Barclays increased their price target on shares of Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group increased their price target on shares of Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Allegion has an average rating of "Hold" and an average price target of $165.88.

Allegion Stock Down 0.6%

ALLE stock traded down $0.92 on Friday, reaching $165.00. 1,366,374 shares of the company traded hands, compared to its average volume of 1,055,568. Allegion PLC has a one year low of $116.57 and a one year high of $166.37. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. The company has a market cap of $14.17 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 3.56 and a beta of 1.05. The firm has a fifty day simple moving average of $146.29 and a 200-day simple moving average of $136.46.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the prior year, the company posted $1.96 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts anticipate that Allegion PLC will post 7.77 earnings per share for the current year.

Insider Activity at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction that occurred 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 sale, the senior vice president owned 8,773 shares in the company, valued at $1,446,843.16. This represents a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by insiders.

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.