Gallacher Capital Management LLC Makes New $256,000 Investment in Allegion PLC (NYSE:ALLE)

Gallacher Capital Management LLC acquired a new position in Allegion PLC (NYSE:ALLE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,961 shares of the scientific and technical instruments company's stock, valued at approximately $256,000.

Other institutional investors have also recently made changes to their positions in the company. Fiduciary Management Inc. WI purchased a new stake in Allegion in the fourth quarter valued at $116,484,000. Norges Bank purchased a new stake in shares of Allegion during the 4th quarter worth about $108,058,000. Lord Abbett & CO. LLC boosted 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 acquiring an additional 414,595 shares in the last quarter. Squarepoint Ops LLC increased its stake in 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 lifted its position in shares of Allegion by 19.2% in the fourth 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 acquiring an additional 264,379 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Allegion Stock Up 5.6%

Shares of NYSE:ALLE traded up $8.68 on Thursday, hitting $163.04. 1,131,642 shares of the company's stock were exchanged, compared to its average volume of 981,882. The firm's 50-day moving average is $143.74 and its 200 day moving average is $134.94. The company has a market capitalization of $14.03 billion, a PE ratio of 22.91, a P/E/G ratio of 3.84 and a beta of 1.01. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $163.59. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.51 and a current ratio of 2.17.

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 for the quarter, beating analysts' consensus estimates of $1.99 by $0.05. Allegion had a net margin of 16.28% and a return on equity of 44.82%. During the same period in the previous year, the firm earned $1.96 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict that Allegion PLC will post 7.77 EPS for the current year.

Analyst Upgrades and Downgrades

ALLE has been the topic of several research reports. The Goldman Sachs Group raised their target price on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Morgan Stanley raised their price target 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. JPMorgan Chase & Co. assumed coverage on shares of Allegion in a report on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price for the company. Robert W. Baird lifted their target price on shares of Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Finally, Barclays lifted their target price on shares of Allegion from $128.00 to $135.00 and gave the company an "underweight" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $151.57.

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.