MQS Management LLC Acquires Shares of 6,456 Allegion PLC (NYSE:ALLE)

MQS Management LLC purchased a new position in shares of Allegion PLC (NYSE:ALLE) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,456 shares of the scientific and technical instruments company’s stock, valued at approximately $842,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC boosted its position in shares of Allegion by 346.8% in the 1st quarter. CWM LLC now owns 26,194 shares of the scientific and technical instruments company’s stock worth $3,417,000 after buying an additional 20,331 shares in the last quarter. BankPlus Trust Department boosted its position in shares of Allegion by 39.0% in the 1st quarter. BankPlus Trust Department now owns 695 shares of the scientific and technical instruments company’s stock worth $91,000 after buying an additional 195 shares in the last quarter. Diversify Wealth Management LLC boosted its position in shares of Allegion by 9.4% in the 1st quarter. Diversify Wealth Management LLC now owns 8,472 shares of the scientific and technical instruments company’s stock worth $1,171,000 after buying an additional 729 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Allegion by 68.4% in the 1st quarter. Cerity Partners LLC now owns 44,523 shares of the scientific and technical instruments company’s stock worth $5,808,000 after buying an additional 18,091 shares in the last quarter. Finally, DMC Group LLC boosted its position in shares of Allegion by 2.2% in the 1st quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company’s stock worth $516,000 after buying an additional 85 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ALLE shares. Morgan Stanley increased their price objective on shares of Allegion from $139.00 to $151.00 and gave the stock an “equal weight” rating in a report on Friday. Barclays increased their target price on shares of Allegion from $128.00 to $135.00 and gave the stock an “underweight” rating in a research report on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of Allegion in a research report on Tuesday, June 24th. They set an “overweight” rating and a $170.00 target price for the company. The Goldman Sachs Group increased their target price on shares of Allegion from $149.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, Robert W. Baird increased their target price on shares of Allegion from $144.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $151.57.

Allegion Stock Down 1.8%

ALLE stock opened at $148.80 on Friday. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $156.10. The company has a current ratio of 2.17, a quick ratio of 1.51 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $12.80 billion, a P/E ratio of 20.90, a PEG ratio of 3.76 and a beta of 1.01. The firm has a 50 day simple moving average of $142.31 and a 200-day simple moving average of $133.88.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.18. Allegion had a net margin of 16.28% and a return on equity of 44.82%. The business had revenue of $941.90 million during the quarter, compared to the consensus estimate of $918.53 million. During the same quarter last year, the company earned $1.55 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal 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.