Massachusetts Financial Services Co. MA grew its stake in Allegion PLC (NYSE:ALLE - Free Report) by 6.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,147,110 shares of the scientific and technical instruments company's stock after purchasing an additional 136,638 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.49% of Allegion worth $280,112,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in shares of Allegion in the fourth quarter worth about $2,090,000. Independent Advisor Alliance acquired a new stake in Allegion in the fourth quarter valued at approximately $215,000. Wealthfront Advisers LLC grew its stake in shares of Allegion by 6.4% during the fourth quarter. Wealthfront Advisers LLC now owns 2,428 shares of the scientific and technical instruments company's stock worth $317,000 after buying an additional 146 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Allegion by 78.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,459 shares of the scientific and technical instruments company's stock valued at $321,000 after acquiring an additional 1,082 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Allegion by 12.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,162 shares of the scientific and technical instruments company's stock valued at $152,000 after acquiring an additional 132 shares in the last quarter. 92.21% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently commented on ALLE shares. The Goldman Sachs Group lifted their price target on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. started coverage on shares of Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price on the stock. Robert W. Baird raised their price target 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. Morgan Stanley boosted their price objective on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Finally, Barclays raised their target price on Allegion from $128.00 to $135.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $151.57.
Get Our Latest Report on Allegion
Allegion Stock Up 0.4%
NYSE ALLE traded up $0.53 on Wednesday, hitting $146.08. 1,075,694 shares of the company were exchanged, compared to its average volume of 875,746. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $156.10. The company has a current ratio of 2.17, a quick ratio of 1.51 and a debt-to-equity ratio of 1.23. The company has a market cap of $12.57 billion, a PE ratio of 20.52, a PEG ratio of 3.73 and a beta of 1.01. The stock has a fifty day moving average of $142.69 and a 200-day moving average of $134.17.
Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.18. Allegion had a return on equity of 44.82% and a net margin of 16.28%. The business had revenue of $941.90 million for the quarter, compared to the consensus estimate of $918.53 million. During the same period in the prior year, the business earned $1.55 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts forecast that Allegion PLC will post 7.77 earnings per share for the current 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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