Tranquilli Financial Advisor LLC Invests $246,000 in Allegion PLC (NYSE:ALLE)

Key Points

• Tranquilli Financial Advisor LLC has invested $246,000 in Allegion PLC by purchasing 1,883 shares in the first quarter, signaling confidence in the company's growth potential.
• The company's quarterly earnings exceeded analysts' expectations, reporting $2.04 earnings per share on revenues of $1.02 billion, a 5.8% increase year-over-year.
• Allegion stock analysts have varied ratings, with price targets ranging from $135 to $175, indicating a consensus "Hold" with an average price target of $165.88.

Tranquilli Financial Advisor LLC purchased a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,883 shares of the scientific and technical instruments company's stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Allegion by 0.5% during the first quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company's stock worth $1,404,672,000 after buying an additional 48,615 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Allegion by 1.0% during the fourth 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 buying an additional 38,377 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Allegion by 6.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,147,110 shares of the scientific and technical instruments company's stock worth $280,112,000 after buying an additional 136,638 shares during the period. Brown Advisory Inc. boosted its position in shares of Allegion by 13.2% during the first quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock worth $279,379,000 after buying an additional 249,295 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in shares of 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 worth $273,022,000 after buying an additional 414,595 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Up 0.0%

Allegion stock opened at $163.77 on Monday. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $167.24. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. The stock has a market cap of $14.06 billion, a PE ratio of 22.75, a P/E/G ratio of 3.51 and a beta of 1.05. The stock's fifty day moving average is $148.95 and its two-hundred day moving average is $137.86.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $2.00 by $0.04. Allegion had a return on equity of 42.62% and a net margin of 16.15%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $999.10 million. During the same period last year, the firm earned $1.96 earnings per share. Allegion's quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that Allegion PLC will post 7.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the firm'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 sale, the senior vice president directly owned 8,773 shares in the company, valued at $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ALLE. Barclays raised their price target on Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a research report on Friday, July 25th. Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. The Goldman Sachs Group increased their price objective on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company increased their price objective on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Finally, Robert W. Baird increased their price objective on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $165.88.

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.

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