Blueshift Asset Management LLC bought a new stake in Allegion PLC (NYSE:ALLE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,850 shares of the scientific and technical instruments company's stock, valued at approximately $502,000.
Other institutional investors have also modified their holdings of the company. Arkadios Wealth Advisors lifted its position in shares of Allegion by 55.8% in the first quarter. Arkadios Wealth Advisors now owns 3,302 shares of the scientific and technical instruments company's stock valued at $431,000 after acquiring an additional 1,183 shares in the last quarter. Bayforest Capital Ltd boosted its position in shares of Allegion by 117.3% in the first quarter. Bayforest Capital Ltd now owns 2,338 shares of the scientific and technical instruments company's stock worth $305,000 after acquiring an additional 1,262 shares during the last quarter. Eastern Bank lifted its position in shares of Allegion by 293.8% during the first quarter. Eastern Bank now owns 630 shares of the scientific and technical instruments company's stock worth $82,000 after purchasing an additional 470 shares in the last quarter. Vestcor Inc lifted its stake in shares of Allegion by 6.7% in the first quarter. Vestcor Inc now owns 8,322 shares of the scientific and technical instruments company's stock worth $1,086,000 after acquiring an additional 520 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in Allegion by 29.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,163 shares of the scientific and technical instruments company's stock worth $282,000 after purchasing an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.
Insider Activity at Allegion
In related news, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction dated Friday, July 25th. The shares were 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 $1,446,843.16. This represents a 30.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.23% of the company's stock.
Allegion Stock Up 1.0%
ALLE stock traded up $1.72 during midday trading on Monday, reaching $166.85. 878,337 shares of the company's stock traded hands, compared to its average volume of 1,123,887. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $167.24. The company has a market cap of $14.32 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 3.54 and a beta of 1.05. The firm's fifty day moving average price is $146.76 and its 200-day moving average price is $136.77. 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 (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.00 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The company's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.96 EPS. As a group, sell-side analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have issued reports on ALLE. Barclays raised their target price on shares of Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a 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 report on Tuesday, July 8th. Mizuho upped their price target on shares of Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Bank of America upgraded shares of 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 report on Tuesday, July 29th. Finally, Morgan Stanley raised their target price on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $165.88.
Read Our Latest Research Report on Allegion
Allegion Company Profile
(
Free Report)
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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