Assetmark Inc. Raises Stake in Allegion PLC (NYSE:ALLE)

Assetmark Inc. raised its position in shares of Allegion PLC (NYSE:ALLE) by 39.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,820 shares of the scientific and technical instruments company’s stock after purchasing an additional 9,227 shares during the quarter. Assetmark Inc.’s holdings in Allegion were worth $4,282,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Allegion by 1.0% in 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 worth $280,607,000 after buying an additional 41,417 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Allegion by 6.8% in 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 in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Allegion by 13.2% in 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 in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Allegion by 24.8% in 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 in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

Allegion stock opened at $163.64 on Tuesday. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $166.22. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $144.94 and a 200-day moving average price of $135.80. The firm has a market capitalization of $14.08 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 3.98 and a beta of 1.01.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $999.10 million. During the same period in the previous year, the company earned $1.96 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that Allegion PLC will post 7.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ALLE. Mizuho boosted their target price on shares of Allegion from $145.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday. The Goldman Sachs Group boosted their target price on shares of Allegion from $149.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. 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. Morgan Stanley upped their price target on shares of Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Finally, Barclays upped their price target on shares of Allegion from $135.00 to $156.00 and gave the company an “underweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $164.57.

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.