Creative Planning purchased a new position in shares of Allegion PLC (NYSE:ALLE) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,451 shares of the scientific and technical instruments company’s stock, valued at approximately $222,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fort L.P. purchased a new stake in Allegion in the 2nd quarter valued at $119,000. IFP Advisors Inc grew its holdings in Allegion by 170.3% in the 3rd quarter. IFP Advisors Inc now owns 2,030 shares of the scientific and technical instruments company’s stock valued at $184,000 after buying an additional 1,279 shares in the last quarter. Mission Wealth Management LP purchased a new stake in Allegion in the 2nd quarter valued at $200,000. Intrust Bank NA purchased a new stake in Allegion in the 2nd quarter valued at $205,000. Finally, Visionary Asset Management Inc. purchased a new stake in Allegion in the 3rd quarter valued at $231,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.
In other news, insider Douglas P. Ranck sold 3,200 shares of the company’s stock in a transaction 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 transaction, the insider now owns 10,348 shares of the company’s stock, valued at approximately $929,043.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.75% of the company’s stock.
Several analysts have issued reports on ALLE shares. Zacks Investment Research upgraded Allegion from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Monday, July 16th. Wells Fargo & Co dropped their target price on Allegion from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Tuesday, July 17th. ValuEngine upgraded Allegion from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Morgan Stanley started 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, Credit Suisse Group started coverage on Allegion in a report on Friday, October 12th. They issued an “outperform” rating and a $96.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $95.50.
Shares of Allegion stock opened at $89.39 on Friday. Allegion PLC has a 52 week low of $73.85 and a 52 week high of $92.87. The firm has a market capitalization of $8.59 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 2.37.
Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, October 25th. The scientific and technical instruments company reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.02. Allegion had a return on equity of 85.03% and a net margin of 11.75%. The business had revenue of $711.50 million for the quarter, compared to analyst estimates of $699.07 million. Equities analysts forecast that Allegion PLC will post 4.49 earnings per share for the current fiscal 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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