Quantitative Systematic Strategies LLC Buys New Position in Allegion PLC (NYSE:ALLE)

Quantitative Systematic Strategies LLC bought a new stake in Allegion PLC (NYSE:ALLE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,120 shares of the scientific and technical instruments company’s stock, valued at approximately $566,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC bought a new position in Allegion in the 1st quarter valued at about $26,000. Financial Gravity Wealth Inc. bought a new position in Allegion in the 1st quarter valued at about $56,000. Starr International Co. Inc. bought a new position in Allegion in the 1st quarter valued at about $126,000. Parallel Advisors LLC grew its position in Allegion by 214.1% in the 1st quarter. Parallel Advisors LLC now owns 1,690 shares of the scientific and technical instruments company’s stock valued at $153,000 after buying an additional 1,152 shares in the last quarter. Finally, Baldwin Investment Management LLC bought a new position in Allegion in the 1st quarter valued at about $204,000. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Shares of NYSE:ALLE traded down $1.86 during trading hours on Wednesday, hitting $97.97. 110,399 shares of the company’s stock traded hands, compared to its average volume of 697,800. Allegion PLC has a 52 week low of $74.83 and a 52 week high of $111.99. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.12 and a current ratio of 1.71. The company’s fifty day simple moving average is $107.58. The stock has a market cap of $9.18 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 1.80 and a beta of 1.15.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, July 25th. The scientific and technical instruments company reported $1.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.05). Allegion had a net margin of 15.65% and a return on equity of 68.47%. The business had revenue of $731.20 million for the quarter, compared to the consensus estimate of $750.76 million. During the same quarter last year, the business posted $1.19 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that Allegion PLC will post 4.84 EPS for the current fiscal year.

In other news, SVP Jeffrey N. Braun sold 6,218 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $104.44, for a total transaction of $649,407.92. Following the completion of the transaction, the senior vice president now owns 13,394 shares in the company, valued at approximately $1,398,869.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Douglas P. Ranck sold 3,036 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $104.64, for a total transaction of $317,687.04. Following the transaction, the chief accounting officer now owns 5,442 shares of the company’s stock, valued at approximately $569,450.88. The disclosure for this sale can be found here. Company insiders own 0.77% of the company’s stock.

ALLE has been the subject of a number of recent analyst reports. Morgan Stanley set a $100.00 target price on shares of Allegion and gave the company a “hold” rating in a research report on Friday, April 26th. Bank of America increased their target price on shares of Allegion from $114.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. ValuEngine lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays raised their price objective on shares of Allegion from $105.00 to $114.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Co raised their price objective on shares of Allegion from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $105.88.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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