Manning & Napier Advisors LLC Buys Shares of 31,838 Allegion plc (NYSE:ALLE)

Manning & Napier Advisors LLC bought a new stake in Allegion plc (NYSE:ALLE) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 31,838 shares of the scientific and technical instruments company’s stock, valued at approximately $3,762,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Boston Partners increased its holdings in Allegion by 1.5% in the first quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock valued at $673,441,000 after buying an additional 72,773 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Allegion by 2.8% during the 1st 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 in the last quarter. Brown Advisory Inc. increased its stake in shares of Allegion by 33.0% during the 4th quarter. Brown Advisory Inc. now owns 1,895,352 shares of the scientific and technical instruments company’s stock worth $240,122,000 after purchasing an additional 470,104 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Allegion during the 4th quarter worth approximately $120,959,000. Finally, Norges Bank purchased a new position in shares of Allegion during the 4th quarter worth approximately $110,740,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ALLE shares. Barclays raised their price objective on shares of Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Wells Fargo & Company raised their price objective on shares of Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Finally, UBS Group raised their target price on shares of Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Allegion presently has an average rating of “Hold” and an average target price of $125.40.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of Allegion stock in a transaction 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 transaction, the senior vice president now owns 11,103 shares in the company, valued at approximately $1,354,343.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.

Allegion Trading Down 0.4 %

NYSE ALLE traded down $0.57 during mid-day trading on Friday, reaching $128.89. 537,051 shares of the stock were exchanged, compared to its average volume of 717,371. Allegion plc has a 1-year low of $95.94 and a 1-year high of $141.99. The business’s fifty day simple moving average is $122.06 and its 200 day simple moving average is $125.92. The stock has a market capitalization of $11.27 billion, a PE ratio of 21.01, a PEG ratio of 4.08 and a beta of 1.13. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The company had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. Allegion’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $1.76 EPS. On average, research analysts anticipate that Allegion plc will post 7.22 earnings per share for the current fiscal year.

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.