Allegion plc (NYSE:ALLE) Shares Bought by Pitcairn Co.

Pitcairn Co. lifted its holdings in Allegion plc (NYSE:ALLE) by 3.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,784 shares of the scientific and technical instruments company’s stock after buying an additional 94 shares during the quarter. Pitcairn Co.’s holdings in Allegion were worth $375,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. CVA Family Office LLC bought a new position in Allegion during the 4th quarter valued at $28,000. Covestor Ltd increased its holdings in shares of Allegion by 255.7% in the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after acquiring an additional 225 shares during the period. Larson Financial Group LLC acquired a new stake in shares of Allegion in the 1st quarter worth about $44,000. First Command Advisory Services Inc. acquired a new position in Allegion during the 1st quarter valued at about $50,000. Finally, Signaturefd LLC increased its stake in Allegion by 20.9% during the 4th quarter. Signaturefd LLC now owns 765 shares of the scientific and technical instruments company’s stock valued at $97,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Up 3.9 %

Shares of ALLE traded up $5.02 during mid-day trading on Thursday, hitting $132.88. 1,312,088 shares of the company’s stock were exchanged, compared to its average volume of 702,589. The firm has a fifty day moving average of $119.86 and a two-hundred day moving average of $125.08. Allegion plc has a twelve month low of $95.94 and a twelve month high of $136.91. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 4.00 and a beta of 1.13. The company has a quick ratio of 0.87, a current ratio of 1.31 and a debt-to-equity ratio of 1.18.

Allegion (NYSE:ALLE) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The business had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. During the same period last year, the business posted $1.76 EPS. Allegion’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts forecast that Allegion plc will post 7.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Wells Fargo & Company increased their target price on shares of Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday. Barclays increased their price target on shares of Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, UBS Group increased their price target on shares of Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $126.50.

Insider Activity at Allegion

In related news, SVP Tracy L. Kemp sold 2,194 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total value of $267,624.12. Following the transaction, the senior vice president now directly owns 11,103 shares in the company, valued at approximately $1,354,343.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

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.