Magnetar Financial LLC Makes New $960,000 Investment in Allegion plc (NYSE:ALLE)

Magnetar Financial LLC purchased a new position in shares of Allegion plc (NYSE:ALLE) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,129 shares of the scientific and technical instruments company’s stock, valued at approximately $960,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parsons Capital Management Inc. RI increased its stake in Allegion by 0.6% during the first quarter. Parsons Capital Management Inc. RI now owns 16,625 shares of the scientific and technical instruments company’s stock worth $2,240,000 after acquiring an additional 91 shares during the last quarter. Pitcairn Co. grew its stake in shares of Allegion by 3.5% in the first quarter. Pitcairn Co. now owns 2,784 shares of the scientific and technical instruments company’s stock valued at $375,000 after buying an additional 94 shares in the last quarter. Schechter Investment Advisors LLC grew its stake in shares of Allegion by 3.9% in the fourth quarter. Schechter Investment Advisors LLC now owns 2,554 shares of the scientific and technical instruments company’s stock valued at $324,000 after buying an additional 97 shares in the last quarter. Allworth Financial LP grew its stake in shares of Allegion by 11.8% in 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 in the last quarter. Finally, First Hawaiian Bank grew its stake in shares of Allegion by 6.3% in the first quarter. First Hawaiian Bank now owns 1,861 shares of the scientific and technical instruments company’s stock valued at $251,000 after buying an additional 110 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ALLE shares. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group increased their target price on Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Wells Fargo & Company raised 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. Finally, Barclays raised their price objective on Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $125.40.

Insiders Place Their Bets

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total transaction of $267,624.12. Following the transaction, the senior vice president now owns 11,103 shares of the company’s stock, valued at approximately $1,354,343.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.33% of the stock is currently owned by company insiders.

Allegion Stock Up 2.9 %

NYSE ALLE traded up $3.89 during mid-day trading on Friday, reaching $136.77. 1,089,910 shares of the company’s stock traded hands, compared to its average volume of 777,593. The company has a current ratio of 1.66, a quick ratio of 0.87 and a debt-to-equity ratio of 1.40. The company has a fifty day simple moving average of $120.26 and a 200-day simple moving average of $125.24. Allegion plc has a 1-year low of $95.94 and a 1-year high of $137.52. The company has a market cap of $11.92 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 4.22 and a beta of 1.13.

Allegion (NYSE:ALLE) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company had revenue of $965.60 million for the quarter, compared to the consensus estimate of $953.63 million. During the same quarter last year, the business posted $1.76 EPS. Allegion’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect that Allegion plc will post 7.22 EPS for the current 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.