Envestnet Asset Management Inc. Acquires 14,528 Shares of Allegion plc (NYSE:ALLE)

Envestnet Asset Management Inc. grew its holdings in Allegion plc (NYSE:ALLE) by 8.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,335 shares of the scientific and technical instruments company’s stock after acquiring an additional 14,528 shares during the quarter. Envestnet Asset Management Inc. owned 0.20% of Allegion worth $19,034,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV raised its holdings in Allegion by 5.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,291 shares of the scientific and technical instruments company’s stock worth $452,000 after buying an additional 229 shares during the period. Engineers Gate Manager LP lifted its position in Allegion by 93.4% in the 4th quarter. Engineers Gate Manager LP now owns 17,490 shares of the scientific and technical instruments company’s stock valued at $1,841,000 after acquiring an additional 8,447 shares in the last quarter. HM Payson & Co. boosted its stake in Allegion by 27.9% in the 1st quarter. HM Payson & Co. now owns 1,988 shares of the scientific and technical instruments company’s stock worth $212,000 after purchasing an additional 434 shares during the period. Lindbrook Capital LLC increased its holdings in Allegion by 101.1% during the 1st quarter. Lindbrook Capital LLC now owns 563 shares of the scientific and technical instruments company’s stock worth $60,000 after purchasing an additional 283 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. acquired a new stake in shares of Allegion in the 1st quarter valued at about $81,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insiders Place Their Bets

In other Allegion news, CEO John H. Stone acquired 17,500 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was bought at an average cost of $116.62 per share, with a total value of $2,040,850.00. Following the completion of the transaction, the chief executive officer now directly owns 94,248 shares in the company, valued at approximately $10,991,201.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO John H. Stone acquired 17,500 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were purchased at an average cost of $116.62 per share, for a total transaction of $2,040,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 94,248 shares in the company, valued at $10,991,201.76. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jennifer L. Hawes sold 750 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $117.50, for a total transaction of $88,125.00. Following the sale, the senior vice president now owns 4,488 shares of the company’s stock, valued at approximately $527,340. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Allegion Price Performance

NYSE:ALLE opened at $114.72 on Friday. The stock has a market capitalization of $10.07 billion, a PE ratio of 19.64, a P/E/G ratio of 3.02 and a beta of 1.11. Allegion plc has a 1-year low of $87.33 and a 1-year high of $128.36. The firm has a fifty day simple moving average of $115.93 and a 200 day simple moving average of $111.42. The company has a current ratio of 1.93, a quick ratio of 1.20 and a debt-to-equity ratio of 1.79.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Wednesday, July 26th. The scientific and technical instruments company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.04. The company had revenue of $912.50 million during the quarter, compared to the consensus estimate of $936.25 million. Allegion had a net margin of 14.27% and a return on equity of 59.20%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 EPS. On average, research analysts expect that Allegion plc will post 6.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALLE. Barclays increased their price objective on Allegion from $120.00 to $130.00 in a report on Monday, July 10th. Robert W. Baird raised their price target on shares of Allegion from $126.00 to $132.00 in a research note on Thursday, July 27th. Finally, StockNews.com began coverage on shares of Allegion in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.50.

Allegion 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.