Mediolanum International Funds Ltd Raises Holdings in Allegion PLC (NYSE:ALLE)

Key Points

• Mediolanum International Funds Ltd increased its stake in Allegion PLC by 58.4%, owning approximately 0.08% of the company worth $8.7 million after purchasing an additional 24,959 shares in Q1.
• Allegion reported $2.04 EPS for the last quarter, exceeding estimates, and had a 5.8% year-over-year revenue growth, amounting to $1.02 billion.
• Analysts have raised their price targets for Allegion, with estimates now ranging from $156 to $175, and the stock has an average rating of "Hold" from multiple investment firms.

Mediolanum International Funds Ltd grew its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 58.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 67,712 shares of the scientific and technical instruments company's stock after purchasing an additional 24,959 shares during the period. Mediolanum International Funds Ltd owned approximately 0.08% of Allegion worth $8,687,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALLE. Fiduciary Management Inc. WI acquired a new position in Allegion during the 4th quarter worth about $116,484,000. Norges Bank acquired a new position in Allegion during the 4th quarter worth about $108,058,000. Lord Abbett & CO. LLC lifted its stake in shares of Allegion by 24.8% in the 4th quarter. Lord Abbett & CO. LLC now owns 2,089,239 shares of the scientific and technical instruments company's stock valued at $273,022,000 after purchasing an additional 414,595 shares during the period. Squarepoint Ops LLC boosted its position 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 valued at $35,584,000 after purchasing an additional 269,949 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Allegion by 19.2% during the fourth quarter. Deutsche Bank AG now owns 1,641,810 shares of the scientific and technical instruments company's stock worth $214,552,000 after purchasing an additional 264,379 shares during the period. Institutional investors own 92.21% of the company's stock.

Allegion Stock Up 0.8%

Allegion stock traded up $1.27 during mid-day trading on Wednesday, reaching $165.38. The stock had a trading volume of 190,011 shares, compared to its average volume of 986,865. The firm has a market capitalization of $14.20 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 3.94 and a beta of 1.01. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $166.22. The stock's 50-day simple moving average is $145.35 and its 200-day simple moving average is $136.00.

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 (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.04. Allegion had a return on equity of 42.62% and a net margin of 16.15%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. During the same quarter in the prior year, the company posted $1.96 earnings per share. Allegion's revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts forecast that Allegion PLC will post 7.77 EPS for the current fiscal year.

Insider Transactions at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the transaction, the senior vice president owned 8,773 shares of the company's stock, valued at approximately $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ALLE. Wells Fargo & Company raised their target price on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Mizuho raised their target price on Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Robert W. Baird raised their target price on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Barclays raised their target price on Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. began coverage on Allegion in a research note on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price for the company. 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $165.88.

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.