Pitcairn Co. Grows Stock Position in Allegion plc (NYSE:ALLE)

Pitcairn Co. boosted its holdings in shares of Allegion plc (NYSE:ALLE) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,784 shares of the scientific and technical instruments company’s stock after purchasing an additional 94 shares during the period. Pitcairn Co.’s holdings in Allegion were worth $375,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ALLE. Van ECK Associates Corp grew its holdings in shares of Allegion by 2.8% during the 1st quarter. Van ECK Associates Corp now owns 3,306,600 shares of the scientific and technical instruments company’s stock worth $445,432,000 after acquiring an additional 90,951 shares during the period. Brown Advisory Inc. boosted its position in shares of Allegion by 33.0% in the 4th quarter. Brown Advisory Inc. now owns 1,895,352 shares of the scientific and technical instruments company’s stock worth $240,122,000 after purchasing an additional 470,104 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Allegion in the 4th quarter valued at approximately $120,959,000. Norges Bank bought a new position in Allegion in the 4th quarter valued at approximately $110,740,000. Finally, Russell Investments Group Ltd. lifted its position in Allegion by 1.4% in the 1st quarter. Russell Investments Group Ltd. now owns 856,816 shares of the scientific and technical instruments company’s stock valued at $115,411,000 after acquiring an additional 11,947 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of NYSE ALLE traded up $5.02 during midday trading on Thursday, hitting $132.88. 1,312,088 shares of the stock traded hands, compared to its average volume of 702,589. The firm has a 50-day moving average of $119.86 and a two-hundred day moving average of $125.08. The firm has a market capitalization of $11.62 billion, a P/E ratio of 21.63, a PEG ratio of 4.00 and a beta of 1.13. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.87 and a current ratio of 1.31. Allegion plc has a one year low of $95.94 and a one year high of $136.91.

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

Analyst Ratings Changes

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

Insider Activity at Allegion

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

Allegion Company 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.