Y Intercept Hong Kong Ltd Makes New Investment in Allegion PLC (NYSE:ALLE)

Key Points

• Y Intercept Hong Kong Ltd made a new investment in Allegion PLC, acquiring 3,946 shares valued at approximately $515,000 in the first quarter of the year.
• Allegion's stock performance includes a market capitalization of $14.24 billion, with shares recently trading at $165.47 and a 12-month price range of $116.57 to $166.22.
• Several analysts have raised their target prices for Allegion, with estimates now ranging from $151.00 to $175.00, while the stock holds a consensus rating of "Hold."

Y Intercept Hong Kong Ltd acquired a new stake in Allegion PLC (NYSE:ALLE - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 3,946 shares of the scientific and technical instruments company's stock, valued at approximately $515,000.

A number of other hedge funds have also recently bought and sold shares of ALLE. Wayfinding Financial LLC bought a new position in shares of Allegion in the 1st quarter worth $30,000. Colonial Trust Co SC boosted its position in shares of Allegion by 192.9% in the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 164 shares during the last quarter. Garde Capital Inc. acquired a new stake in Allegion during the 1st quarter worth $36,000. GeoWealth Management LLC raised its stake in Allegion by 259.3% during the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock worth $40,000 after buying an additional 223 shares during the period. Finally, Oakworth Capital Inc. acquired a new stake in Allegion during the 1st quarter worth $46,000. 92.21% of the stock is currently owned by institutional investors.

Insider Transactions at Allegion

In related 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 transaction of $634,777.08. Following the completion of the transaction, the senior vice president directly owned 8,773 shares of the company's stock, valued at $1,446,843.16. This trade represents a 30.49% decrease in their position. The sale was disclosed in a document filed 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 analysts recently commented on the company. Barclays raised their price objective on Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a research note on Friday, July 25th. Robert W. Baird lifted their price target on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $110.00 to $175.00 in a research report on Tuesday. The Goldman Sachs Group lifted their price target on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Mizuho lifted their price target on Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $165.88.

Allegion Price Performance

NYSE:ALLE traded up $0.04 during trading hours on Thursday, reaching $164.86. 205,148 shares of the company were exchanged, compared to its average volume of 988,240. The business has a 50 day moving average of $145.80 and a 200 day moving average of $136.20. The company has a market capitalization of $14.15 billion, a P/E ratio of 22.90, a P/E/G ratio of 3.96 and a beta of 1.01. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $166.22. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, beating 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. During the same quarter last year, the business posted $1.96 EPS. Allegion's revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts forecast that Allegion PLC will post 7.77 EPS for the current year.

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.