IFG Advisory LLC Invests $332,000 in Allegion plc (NYSE:ALLE)

IFG Advisory LLC acquired a new position in Allegion plc (NYSE:ALLE) in the 2nd quarter, HoldingsChannel reports. The fund acquired 2,814 shares of the scientific and technical instruments company’s stock, valued at approximately $332,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC increased its stake in shares of Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Allegion by 19.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 3,823 shares during the period. Gradient Investments LLC bought a new position in Allegion in the 2nd quarter worth approximately $38,000. Blue Trust Inc. grew its stake in Allegion by 54.0% in the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock valued at $41,000 after buying an additional 121 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Allegion by 255.7% during the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 225 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALLE. Wells Fargo & Company boosted their price objective on Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Barclays upped their price target on Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $125.40.

Allegion Price Performance

Allegion stock opened at $138.84 on Monday. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 4.26 and a beta of 1.13. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The business has a 50-day simple moving average of $127.22 and a 200 day simple moving average of $126.65. Allegion plc has a 52 week low of $95.94 and a 52 week high of $141.99.

Allegion (NYSE:ALLE) last issued 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 company had revenue of $965.60 million during the quarter, compared to analyst estimates of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. Allegion’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.76 earnings per share. On average, research analysts forecast that Allegion plc will post 7.26 earnings per share for the current fiscal year.

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.