Point72 Asset Management L.P. Has $3.72 Million Stock Position in Allegion PLC (NYSE:ALLE)

Point72 Asset Management L.P. grew its holdings in Allegion PLC (NYSE:ALLE) by 5,876.5% in the third quarter, HoldingsChannel reports. The fund owned 35,859 shares of the scientific and technical instruments company’s stock after buying an additional 35,259 shares during the period. Point72 Asset Management L.P.’s holdings in Allegion were worth $3,717,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ALLE. BlackRock Inc. lifted its position in Allegion by 10.8% during the second quarter. BlackRock Inc. now owns 8,406,547 shares of the scientific and technical instruments company’s stock worth $929,344,000 after purchasing an additional 821,079 shares during the period. State Street Corp increased its stake in shares of Allegion by 0.3% in the 3rd quarter. State Street Corp now owns 4,210,239 shares of the scientific and technical instruments company’s stock valued at $436,391,000 after purchasing an additional 13,002 shares during the last quarter. AKO Capital LLP increased its stake in shares of Allegion by 0.7% in the 2nd quarter. AKO Capital LLP now owns 1,767,572 shares of the scientific and technical instruments company’s stock valued at $195,405,000 after purchasing an additional 12,909 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Allegion by 120.7% during the 2nd quarter. Invesco Ltd. now owns 1,694,728 shares of the scientific and technical instruments company’s stock worth $187,352,000 after buying an additional 926,897 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Allegion by 32.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,620,226 shares of the scientific and technical instruments company’s stock worth $179,116,000 after buying an additional 398,854 shares in the last quarter. 93.22% of the stock is owned by institutional investors.

Shares of Allegion stock opened at $120.36 on Tuesday. The company’s 50 day moving average price is $114.47 and its two-hundred day moving average price is $105.42. The firm has a market capitalization of $11.15 billion, a P/E ratio of 26.75, a P/E/G ratio of 2.12 and a beta of 1.18. Allegion PLC has a fifty-two week low of $74.83 and a fifty-two week high of $122.37. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.90 and a quick ratio of 1.30.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.14. Allegion had a net margin of 16.00% and a return on equity of 69.28%. The company had revenue of $748.30 million during the quarter, compared to the consensus estimate of $737.64 million. During the same period in the prior year, the business earned $1.23 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts expect that Allegion PLC will post 4.9 earnings per share for the current year.

In other Allegion news, CFO Patrick S. Shannon sold 20,421 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $115.43, for a total value of $2,357,196.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy P. Eckersley sold 2,364 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $116.28, for a total transaction of $274,885.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,288 shares of company stock worth $7,609,276. 0.77% of the stock is currently owned by company insiders.

Several brokerages recently weighed in on ALLE. Zacks Investment Research upgraded Allegion from a “sell” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Monday, October 28th. Wells Fargo & Co lifted their target price on Allegion from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Imperial Capital boosted their target price on Allegion from $105.00 to $116.00 and gave the stock an “in-line” rating in a research note on Monday, October 28th. They noted that the move was a valuation call. Barclays reissued a “buy” rating and set a $120.00 target price on shares of Allegion in a research note on Friday, October 25th. Finally, Bank of America set a $125.00 target price on shares of Allegion and gave the stock a “buy” rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $113.75.

Allegion 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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