M&T Bank Corp Acquires 18,786 Shares of Allegion PLC (NYSE:ALLE)

M&T Bank Corp increased its holdings in Allegion PLC (NYSE:ALLE) by 26.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,702 shares of the scientific and technical instruments company’s stock after purchasing an additional 18,786 shares during the quarter. M&T Bank Corp owned approximately 0.10% of Allegion worth $9,169,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its position in shares of Allegion by 181.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 34,455 shares of the scientific and technical instruments company’s stock worth $3,171,000 after purchasing an additional 22,196 shares during the period. Vident Investment Advisory LLC boosted its position in Allegion by 520.0% during the second quarter. Vident Investment Advisory LLC now owns 20,393 shares of the scientific and technical instruments company’s stock valued at $2,085,000 after acquiring an additional 17,104 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in Allegion by 115.3% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 12,113 shares of the scientific and technical instruments company’s stock worth $1,238,000 after acquiring an additional 6,487 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Allegion by 7.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 274,215 shares of the scientific and technical instruments company’s stock worth $25,233,000 after acquiring an additional 18,663 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Allegion by 465.8% in the 1st quarter. Wellington Management Group LLP now owns 11,366 shares of the scientific and technical instruments company’s stock valued at $1,046,000 after purchasing an additional 9,357 shares during the period. Institutional investors and hedge funds own 92.79% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Allegion from a “sell” rating to a “hold” rating and set a $105.00 target price for the company in a report on Friday, May 29th. Morgan Stanley boosted their target price on shares of Allegion from $95.00 to $103.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Credit Suisse Group increased their target price on shares of Allegion from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Wells Fargo & Co lifted their price target on shares of Allegion from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Finally, Imperial Capital dropped their price objective on shares of Allegion from $120.00 to $100.00 and set an “in-line” rating on the stock in a report on Monday, April 27th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company. Allegion presently has an average rating of “Hold” and a consensus target price of $106.38.

Allegion stock opened at $99.46 on Friday. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 3.83 and a beta of 1.18. The firm’s fifty day moving average price is $102.57 and its two-hundred day moving average price is $107.73. Allegion PLC has a 1-year low of $77.37 and a 1-year high of $139.24. The company has a current ratio of 2.11, a quick ratio of 1.47 and a debt-to-equity ratio of 2.10.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.13. The business had revenue of $589.50 million for the quarter, compared to analysts’ expectations of $605.87 million. Allegion had a net margin of 10.48% and a return on equity of 64.29%. The firm’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. On average, research analysts forecast that Allegion PLC will post 4.26 EPS for the current year.

About Allegion

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.

Further Reading: CD Ladder

Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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