MQS Management LLC Invests $842,000 in Allegion PLC (NYSE:ALLE)

MQS Management LLC bought a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,456 shares of the scientific and technical instruments company's stock, valued at approximately $842,000.

Several other large investors have also recently added to or reduced their stakes in the business. Millstone Evans Group LLC acquired a new stake in shares of Allegion in the fourth quarter valued at about $28,000. Wayfinding Financial LLC acquired a new stake in shares of Allegion in the first quarter valued at about $30,000. Colonial Trust Co SC grew its stake in shares of Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock valued at $33,000 after buying an additional 164 shares in the last quarter. Atala Financial Inc acquired a new stake in shares of Allegion in the fourth quarter valued at about $35,000. Finally, Garde Capital Inc. acquired a new stake in shares of Allegion in the first quarter valued at about $36,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Performance

Allegion stock traded down $0.40 during mid-day trading on Monday, hitting $148.42. 155,990 shares of the company's stock traded hands, compared to its average volume of 966,441. The firm has a 50 day moving average price of $142.31 and a 200 day moving average price of $133.89. 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 company has a market cap of $12.77 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 3.76 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 announced its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.18. The firm had revenue of $941.90 million for 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 firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. On average, equities analysts forecast that Allegion PLC will post 7.77 EPS for the current year.

Analyst Upgrades and Downgrades

ALLE has been the subject of a number of recent research reports. JPMorgan Chase & Co. started coverage on Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price for the company. Morgan Stanley lifted their target price on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research report on Friday. The Goldman Sachs Group lifted their target price on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Robert W. Baird lifted their target price on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Finally, Barclays lifted 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Allegion presently has an average rating of "Hold" and an average target price of $151.57.

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.