Edgestream Partners L.P. acquired a new stake in Allegion PLC (NYSE:ALLE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,571 shares of the scientific and technical instruments company's stock, valued at approximately $1,510,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fiduciary Management Inc. WI acquired a new position in shares of Allegion during the 4th quarter worth about $116,484,000. Norges Bank purchased a new position in shares of Allegion during the 4th quarter worth approximately $108,058,000. Lord Abbett & CO. LLC raised its stake in shares of Allegion by 24.8% during the 4th quarter. Lord Abbett & CO. LLC now owns 2,089,239 shares of the scientific and technical instruments company's stock worth $273,022,000 after buying an additional 414,595 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Allegion by 11,506.8% during the 4th quarter. Squarepoint Ops LLC now owns 272,295 shares of the scientific and technical instruments company's stock worth $35,584,000 after buying an additional 269,949 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Allegion by 19.2% in the 4th quarter. Deutsche Bank AG now owns 1,641,810 shares of the scientific and technical instruments company's stock valued at $214,552,000 after purchasing an additional 264,379 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on ALLE shares. JPMorgan Chase & Co. started coverage on Allegion in a research report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target for the company. The Goldman Sachs Group raised their price objective on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley raised their price objective on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Barclays raised their price objective on Allegion from $128.00 to $135.00 and gave the stock an "underweight" rating in a report on Wednesday, July 9th. Finally, Robert W. Baird lifted their target price on Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $151.57.
Check Out Our Latest Stock Report on ALLE
Allegion Stock Performance
Shares of NYSE:ALLE traded down $0.76 during trading on Friday, hitting $152.77. 934,534 shares of the company traded hands, compared to its average volume of 881,556. The company has a quick ratio of 1.51, a current ratio of 2.17 and a debt-to-equity ratio of 1.23. The business's fifty day moving average is $143.17 and its 200-day moving average is $134.50. The stock has a market capitalization of $13.15 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 3.85 and a beta of 1.01. Allegion PLC has a one year low of $116.57 and a one year high of $156.10.
Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.18. The business had revenue of $941.90 million during the quarter, compared to the consensus estimate of $918.53 million. Allegion had a return on equity of 44.82% and a net margin of 16.28%. The business's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 earnings per share. As a group, equities analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal year.
Allegion Company Profile
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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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