Allegion plc (NYSE:ALLE) Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. increased its position in shares of Allegion plc (NYSE:ALLE) by 1,386.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,985 shares of the scientific and technical instruments company’s stock after purchasing an additional 15,842 shares during the period. Bessemer Group Inc.’s holdings in Allegion were worth $2,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in Allegion by 2.8% during the first quarter. Van ECK Associates Corp now owns 3,306,600 shares of the scientific and technical instruments company’s stock worth $445,432,000 after purchasing an additional 90,951 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Allegion by 33.0% during the fourth quarter. Brown Advisory Inc. now owns 1,895,352 shares of the scientific and technical instruments company’s stock valued at $240,122,000 after acquiring an additional 470,104 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Allegion during the fourth quarter valued at about $120,959,000. Norges Bank acquired a new stake in shares of Allegion during the fourth quarter valued at about $110,740,000. Finally, Russell Investments Group Ltd. increased its position in shares of Allegion by 1.4% during the first quarter. Russell Investments Group Ltd. now owns 856,816 shares of the scientific and technical instruments company’s stock valued at $115,411,000 after acquiring an additional 11,947 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ALLE shares. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Barclays lifted their price target on shares of Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research report on Thursday. UBS Group lifted their price target on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company dropped their price target on shares of Allegion from $141.00 to $125.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $124.50.

Allegion Stock Up 3.8 %

Allegion stock traded up $4.83 during trading on Thursday, reaching $132.69. The stock had a trading volume of 264,837 shares, compared to its average volume of 695,214. Allegion plc has a 52-week low of $95.94 and a 52-week high of $136.91. The business has a 50 day moving average price of $119.86 and a 200 day moving average price of $125.08. The company has a quick ratio of 0.87, a current ratio of 1.31 and a debt-to-equity ratio of 1.18. The stock has a market cap of $11.60 billion, a PE ratio of 21.60, a P/E/G ratio of 4.00 and a beta of 1.13.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The company had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. During the same quarter in the previous year, the firm earned $1.76 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts predict that Allegion plc will post 7.09 EPS for the current year.

Insider Buying and Selling

In related news, SVP Tracy L. Kemp sold 2,194 shares of Allegion stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by insiders.

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.