Earned Wealth Advisors LLC Makes New $217,000 Investment in Allegion PLC (NYSE:ALLE)

Earned Wealth Advisors LLC bought a new position in Allegion PLC (NYSE:ALLE) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,664 shares of the scientific and technical instruments company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in 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 acquiring an additional 38,377 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Allegion by 6.8% in the 1st 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 acquiring an additional 136,638 shares during the period. Brown Advisory Inc. grew its stake in Allegion by 13.2% in the 1st quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company’s stock worth $279,379,000 after acquiring an additional 249,295 shares during the period. Lord Abbett & CO. LLC grew its stake in Allegion by 24.8% in the 4th 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 acquiring an additional 414,595 shares during the period. Finally, Invesco Ltd. grew its stake in Allegion by 10.6% in the 4th quarter. Invesco Ltd. now owns 1,761,458 shares of the scientific and technical instruments company’s stock worth $230,187,000 after acquiring an additional 169,149 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the transaction, the senior vice president owned 8,773 shares in the company, valued at $1,446,843.16. The trade was a 30.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.

Allegion Stock Up 1.0%

Shares of Allegion stock opened at $166.85 on Tuesday. The company has a fifty day moving average price of $146.76 and a 200 day moving average price of $136.77. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $167.24. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 3.54 and a beta of 1.05.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share 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 prior year, the company earned $1.96 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. Equities research analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALLE. JPMorgan Chase & Co. began coverage on shares of Allegion in a research note on Tuesday, June 24th. They set an “overweight” rating and a $170.00 price objective for the company. Barclays boosted their price objective on shares of Allegion from $135.00 to $156.00 and gave the company an “underweight” rating in a research note on Friday, July 25th. Robert W. Baird boosted their price objective on shares of Allegion from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Morgan Stanley boosted their price objective 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, Mizuho boosted their price objective on shares of Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.