CCM Investment Group LLC Acquires Shares of 3,831 Allegion PLC (NYSE:ALLE)

Key Points

• CCM Investment Group LLC acquired 3,831 shares of Allegion PLC valued at approximately $491,000, marking a significant investment during the first quarter.
• Allegion reported $2.04 earnings per share for the last quarter, surpassing the consensus estimate of $2.00, with revenues of $1.02 billion, which is a 5.8% increase year-over-year.
• Research analysts have varying outlooks on Allegion, with target price adjustments ranging from $139.00 to $175.00 and an overall consensus rating of "Hold."

CCM Investment Group LLC acquired a new stake in shares of Allegion PLC (NYSE:ALLE - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,831 shares of the scientific and technical instruments company's stock, valued at approximately $491,000.

Other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Allegion by 324.3% during the first 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 purchasing an additional 32,842 shares in the last quarter. Merit Financial Group LLC boosted its holdings in Allegion by 284.1% during the first 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 purchasing an additional 6,128 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Allegion by 6.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company's stock valued at $15,768,000 after acquiring an additional 7,645 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Allegion by 10.6% in the first quarter. Asset Management One Co. Ltd. now owns 37,648 shares of the scientific and technical instruments company's stock valued at $4,912,000 after acquiring an additional 3,618 shares during the last quarter. Finally, Jump Financial LLC raised its stake in shares of Allegion by 56.0% in the fourth quarter. Jump Financial LLC now owns 46,641 shares of the scientific and technical instruments company's stock valued at $6,095,000 after acquiring an additional 16,749 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Performance

ALLE stock opened at $163.77 on Monday. 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 50 day moving average price of $148.95 and a 200 day moving average price of $137.86. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $167.24. The stock has a market capitalization of $14.06 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 3.51 and a beta of 1.05.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $999.10 million. During the same quarter in the previous year, the company posted $1.96 EPS. Allegion's revenue was up 5.8% on a year-over-year basis. Analysts forecast that Allegion PLC will post 7.77 EPS for the current year.

Insider Buying and Selling

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction 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 completion of the sale, the senior vice president 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALLE shares. Morgan Stanley lifted their target price on shares of Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Bank of America upgraded shares of Allegion from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. Barclays lifted their target price on shares of Allegion from $135.00 to $156.00 and gave the company an "underweight" rating in a research note on Friday, July 25th. The Goldman Sachs Group lifted their target price on shares of Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price for the company. 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, the stock currently has a consensus rating of "Hold" and an average price target 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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