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3,850 Shares in Allegion PLC (NYSE:ALLE) Purchased by Blueshift Asset Management LLC

Allegion logo with Industrials background

Key Points

  • Blueshift Asset Management LLC made a new investment in Allegion PLC by purchasing 3,850 shares worth approximately $502,000 in the 1st quarter.
  • Allegion's shares are currently trading at $165.00, with a 12-month high of $166.37, and its recent earnings report showed $2.04 earnings per share, exceeding estimates.
  • Analysts have increased their price targets for Allegion, with Goldman Sachs raising their target from $149.00 to $170.00 and Bank of America upgrading their rating from "underperform" to "neutral".
  • Interested in Allegion? Here are five stocks we like better.

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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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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