Pendal Group Ltd grew its position in shares of Allegion PLC (NYSE:ALLE) by 39.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,268 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,732 shares during the quarter. Pendal Group Ltd’s holdings in Allegion were worth $2,470,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Fort L.P. acquired a new position in shares of Allegion in the second quarter worth approximately $119,000. IFP Advisors Inc lifted its stake in shares of Allegion by 170.3% in the third quarter. IFP Advisors Inc now owns 2,030 shares of the scientific and technical instruments company’s stock worth $184,000 after acquiring an additional 1,279 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Allegion in the third quarter worth approximately $189,000. Creative Planning acquired a new position in shares of Allegion in the third quarter worth approximately $222,000. Finally, Visionary Asset Management Inc. acquired a new position in shares of Allegion in the third quarter worth approximately $231,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on ALLE shares. Credit Suisse Group began coverage on Allegion in a research note on Friday, October 12th. They issued an “outperform” rating and a $96.00 price objective on the stock. Wells Fargo & Co lifted their target price on Allegion from $96.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, October 26th. Zacks Investment Research upgraded Allegion from a “sell” rating to a “hold” rating in a report on Tuesday, October 23rd. Morgan Stanley began coverage on Allegion in a report on Monday, August 20th. They issued an “equal weight” rating and a $88.00 target price for the company. Finally, ValuEngine upgraded Allegion from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Allegion has an average rating of “Buy” and an average target price of $95.50.
In other Allegion news, insider Douglas P. Ranck sold 3,200 shares of Allegion stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $89.78, for a total value of $287,296.00. Following the completion of the sale, the insider now directly owns 10,348 shares in the company, valued at $929,043.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.75% of the company’s stock.
Shares of ALLE stock opened at $90.42 on Friday. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 2.37. Allegion PLC has a fifty-two week low of $73.85 and a fifty-two week high of $92.87.
Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 25th. The scientific and technical instruments company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.02. The business had revenue of $711.50 million during the quarter, compared to the consensus estimate of $699.07 million. Allegion had a return on equity of 85.03% and a net margin of 11.75%. On average, research analysts anticipate that Allegion PLC will post 4.49 earnings per share for the current year.
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Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.
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