Allegion PLC (NYSE:ALLE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 757,764 shares of the scientific and technical instruments company's stock after selling 74,086 shares during the period. Bank of New York Mellon Corp owned 0.88% of Allegion worth $98,858,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of ALLE. Renaissance Technologies LLC raised its holdings in Allegion by 438.6% in the 4th quarter. Renaissance Technologies LLC now owns 267,700 shares of the scientific and technical instruments company's stock valued at $34,983,000 after buying an additional 218,000 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in 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 valued at $5,606,000 after buying an additional 32,842 shares during the period. Daiwa Securities Group Inc. raised its holdings in Allegion by 73.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 18,761 shares of the scientific and technical instruments company's stock valued at $2,452,000 after buying an additional 7,950 shares during the period. Magnetar Financial LLC purchased a new stake in Allegion in the 4th quarter valued at about $4,398,000. Finally, Merit Financial Group LLC raised its holdings in 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 valued at $1,081,000 after buying an additional 6,128 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ALLE shares. Robert W. Baird lifted their target price on Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Morgan Stanley boosted their target price on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Friday. The Goldman Sachs Group boosted their price objective on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday. Barclays boosted their price objective on Allegion from $128.00 to $135.00 and gave the company an "underweight" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. began coverage on Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $151.57.

Allegion Stock Performance

Shares of Allegion stock traded down $2.73 during trading hours on Friday, hitting $148.80. 876,106 shares of the company were exchanged, compared to its average volume of 872,219. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $156.10. The company has a current ratio of 2.17, a quick ratio of 1.51 and a debt-to-equity ratio of 1.23. The business has a 50-day moving average of $142.31 and a 200-day moving average of $133.88. The stock has a market capitalization of $12.80 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 3.83 and a beta of 1.01.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.18. Allegion had a return on equity of 44.82% and a net margin of 16.28%. The firm had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. During the same quarter in the prior year, the company posted $1.55 earnings per share. Allegion's quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts expect 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.