Forsta AP Fonden Buys 1,700 Shares of Allegion plc (NYSE:ALLE)

Forsta AP Fonden boosted its stake in shares of Allegion plc (NYSE:ALLE) by 8.6% during the first quarter, Holdings Channel reports. The firm owned 21,500 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,700 shares during the quarter. Forsta AP Fonden’s holdings in Allegion were worth $2,896,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC bought a new position in Allegion during the fourth quarter valued at approximately $28,000. Larson Financial Group LLC purchased a new stake in Allegion during the first quarter valued at approximately $44,000. First Command Advisory Services Inc. purchased a new stake in Allegion during the first quarter valued at approximately $50,000. Signaturefd LLC increased its holdings in Allegion by 20.9% during the fourth 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 last quarter. Finally, Allworth Financial LP increased its holdings in Allegion by 11.8% during the fourth quarter. Allworth Financial LP now owns 982 shares of the scientific and technical instruments company’s stock valued at $124,000 after buying an additional 104 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of Allegion from $141.00 to $125.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Barclays reduced their target price on shares of Allegion from $116.00 to $112.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. UBS Group increased their price objective 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. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Allegion has a consensus rating of “Hold” and a consensus target price of $123.67.

Allegion Price Performance

ALLE traded down $0.18 during trading on Monday, hitting $122.75. 11,485 shares of the company traded hands, compared to its average volume of 690,312. The company has a market cap of $10.73 billion, a PE ratio of 20.05, a P/E/G ratio of 3.86 and a beta of 1.13. The stock’s 50-day simple moving average is $119.76 and its two-hundred day simple moving average is $124.98. Allegion plc has a 1 year low of $95.94 and a 1 year high of $136.91. The company has a current ratio of 1.31, a quick ratio of 0.87 and a debt-to-equity ratio of 1.18.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. The company had revenue of $893.90 million during the quarter, compared to analysts’ expectations of $888.27 million. Allegion had a net margin of 14.93% and a return on equity of 48.58%. Allegion’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the company posted $1.58 earnings per share. As a group, sell-side analysts anticipate that Allegion plc will post 7.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the transaction, the senior vice president now 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.