HB Wealth Management LLC Invests $223,000 in Allegion PLC (NYSE:ALLE)

HB Wealth Management LLC bought a new stake in Allegion PLC (NYSE:ALLE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,707 shares of the scientific and technical instruments company's stock, valued at approximately $223,000.

Other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC grew its stake in shares of Allegion by 438.6% in the fourth quarter. Renaissance Technologies LLC now owns 267,700 shares of the scientific and technical instruments company's stock worth $34,983,000 after purchasing an additional 218,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Allegion by 324.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company's stock worth $5,606,000 after buying an additional 32,842 shares during the last quarter. Merit Financial Group LLC boosted its position 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 worth $1,081,000 after purchasing an additional 6,128 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Allegion by 6.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company's stock worth $15,768,000 after purchasing an additional 7,645 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in Allegion by 10.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 37,648 shares of the scientific and technical instruments company's stock worth $4,912,000 after purchasing an additional 3,618 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Buying and Selling at Allegion

In related news, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $164.92, for a total transaction of $634,777.08. Following the sale, the senior vice president owned 8,773 shares in the company, valued at $1,446,843.16. This represents a 30.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ALLE. Robert W. Baird upped their target price on shares of Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. assumed coverage on Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price on the stock. Bank of America upgraded 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 research report on Tuesday, July 29th. Barclays lifted their price objective on shares of Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a research note on Friday, July 25th. Finally, Mizuho upped their target price on shares of Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. One equities research 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $165.88.

Allegion Stock Performance

Shares of Allegion stock traded down $0.87 on Thursday, hitting $163.63. The stock had a trading volume of 328,860 shares, compared to its average volume of 993,553. The stock has a market cap of $14.05 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 3.54 and a beta of 1.05. The business's 50 day moving average is $148.12 and its two-hundred day moving average is $137.39. 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 PLC has a twelve month low of $116.57 and a twelve month high of $167.24.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, beating the consensus estimate of $2.00 by $0.04. The firm 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 business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $1.96 EPS. Analysts forecast that Allegion PLC will post 7.77 EPS for the current year.

About Allegion

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.