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Cooke & Bieler LP Purchases New Stake in Allegion PLC (NYSE:ALLE)

Allegion logo with Industrials background

Cooke & Bieler LP acquired a new position in Allegion PLC (NYSE:ALLE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 249,264 shares of the scientific and technical instruments company's stock, valued at approximately $32,519,000. Cooke & Bieler LP owned 0.29% of Allegion as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC purchased a new stake in shares of Allegion in the 1st quarter valued at about $2,817,000. Dynasty Wealth Management LLC boosted its holdings in shares of Allegion by 2.8% during the first quarter. Dynasty Wealth Management LLC now owns 4,030 shares of the scientific and technical instruments company's stock worth $526,000 after purchasing an additional 109 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Allegion by 61.5% in the 1st quarter. Verdence Capital Advisors LLC now owns 4,025 shares of the scientific and technical instruments company's stock worth $525,000 after buying an additional 1,533 shares during the period. Parcion Private Wealth LLC purchased a new position in shares of Allegion during the 1st quarter valued at approximately $253,000. Finally, Larson Financial Group LLC lifted its position in shares of Allegion by 56.8% in the 1st quarter. Larson Financial Group LLC now owns 4,342 shares of the scientific and technical instruments company's stock worth $566,000 after buying an additional 1,572 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Wall Street Analysts Forecast Growth

ALLE has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on shares of Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. The Goldman Sachs Group upped their price target on shares of Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley lifted their price objective on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. 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. Finally, Barclays boosted their price objective on shares of Allegion from $128.00 to $135.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $151.57.

View Our Latest Report on ALLE

Allegion Stock Up 0.4%

Shares of ALLE stock opened at $146.08 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.51 and a current ratio of 2.17. The firm's 50-day moving average is $142.69 and its 200-day moving average is $134.17. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.66 and a beta of 1.01. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last announced its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.18. The firm had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. Allegion had a net margin of 16.28% and a return on equity of 44.82%. The business's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.55 EPS. Sell-side analysts predict that Allegion PLC will post 7.77 EPS for the current year.

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)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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