Parcion Private Wealth LLC Makes New $253,000 Investment in Allegion PLC (NYSE:ALLE)

Parcion Private Wealth LLC purchased a new position in Allegion PLC (NYSE:ALLE - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,940 shares of the scientific and technical instruments company's stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ALLE. Proficio Capital Partners LLC acquired a new stake in Allegion in the 4th quarter worth $2,090,000. Independent Advisor Alliance bought a new position in shares of Allegion during the 4th quarter worth about $215,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Allegion by 78.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,459 shares of the scientific and technical instruments company's stock worth $321,000 after acquiring an additional 1,082 shares during the period. Farther Finance Advisors LLC lifted 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 worth $152,000 after acquiring an additional 132 shares during the period. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Allegion by 9.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,107 shares of the scientific and technical instruments company's stock worth $537,000 after acquiring an additional 365 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Stock Up 0.4%

Shares of NYSE ALLE opened at $146.08 on Thursday. The stock has a market cap of $12.57 billion, a P/E ratio of 20.52, a P/E/G ratio of 3.66 and a beta of 1.01. The firm has a 50 day moving average price of $142.69 and a 200 day moving average price of $134.17. 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 PLC has a 52-week low of $116.57 and a 52-week high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly 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 company had revenue of $941.90 million during the quarter, compared to analysts' expectations of $918.53 million. Allegion had a net margin of 16.28% and a return on equity of 44.82%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.55 earnings per share. Analysts expect that Allegion PLC will post 7.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALLE. Robert W. Baird lifted their price target on shares of Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, April 25th. The Goldman Sachs Group lifted their price target on shares of Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. began coverage on shares of Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target for the company. Morgan Stanley lifted their price target on shares of Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Finally, Barclays upped their target price on shares of Allegion from $128.00 to $135.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Allegion has an average rating of "Hold" and an average price target of $151.57.

Allegion Company 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.

Want to see what other hedge funds are holding ALLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegion PLC (NYSE:ALLE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.