Principal Financial Group Inc. Increases Stock Position in Allegion PLC (NYSE:ALLE)

Principal Financial Group Inc. boosted its position in Allegion PLC (NYSE:ALLE - Free Report) by 9.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 133,579 shares of the scientific and technical instruments company's stock after purchasing an additional 12,018 shares during the period. Principal Financial Group Inc. owned about 0.15% of Allegion worth $17,427,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Allegion by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company's stock valued at $1,400,688,000 after buying an additional 177,808 shares during the period. Boston Partners increased its stake in shares of Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company's stock worth $616,503,000 after purchasing an additional 488,390 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Allegion by 1.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company's stock worth $509,313,000 after purchasing an additional 38,377 shares during the period. Geode Capital Management LLC lifted its stake in Allegion by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company's stock valued at $280,607,000 after purchasing an additional 41,417 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in Allegion by 24.8% during the fourth 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. Institutional investors own 92.21% of the company's stock.

Analysts Set New Price Targets

ALLE has been the subject of several recent research reports. Morgan Stanley lifted their price objective on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a report on Friday. Robert W. Baird lifted their target price on shares of Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. started coverage on shares of Allegion in a research note on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target on the stock. Barclays raised their price objective on shares of Allegion from $128.00 to $135.00 and gave the stock an "underweight" rating in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group boosted their target price on shares of Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $151.57.

Allegion Price Performance

NYSE:ALLE traded down $0.27 during mid-day trading on Monday, hitting $148.54. 725,267 shares of the stock traded hands, compared to its average volume of 872,669. The business's 50-day moving average price is $142.31 and its 200 day moving average price is $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 $12.78 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 3.76 and a beta of 1.01. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.68 by $0.18. The firm had revenue of $941.90 million during the quarter, compared to the consensus estimate 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 period last year, the firm earned $1.55 EPS. On average, analysts expect that Allegion PLC will post 7.77 EPS for the current fiscal 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.