Allegion plc (NYSE:ALLE) Position Lessened by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co decreased its stake in Allegion plc (NYSE:ALLE) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,391 shares of the scientific and technical instruments company’s stock after selling 1,155 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Allegion were worth $6,519,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. CVA Family Office LLC bought a new stake in Allegion during the 4th quarter valued at $28,000. Robeco Institutional Asset Management B.V. raised its stake in Allegion by 19.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 3,823 shares in the last quarter. Covestor Ltd raised its stake in Allegion by 255.7% during the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 225 shares in the last quarter. Larson Financial Group LLC bought a new stake in Allegion during the 1st quarter valued at $44,000. Finally, First Command Advisory Services Inc. bought a new stake in Allegion during the 1st quarter valued at $50,000. Institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays lifted their price target on Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, UBS Group lifted their price target on Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $126.50.

Insider Buying and Selling

In related news, SVP Tracy L. Kemp sold 2,194 shares of Allegion stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total value of $267,624.12. Following the transaction, the senior vice president now directly owns 11,103 shares in the company, valued at approximately $1,354,343.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Allegion Stock Performance

Shares of NYSE ALLE opened at $136.83 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 4.10 and a beta of 1.13. The stock’s fifty day simple moving average is $120.26 and its 200 day simple moving average is $125.23. Allegion plc has a 52-week low of $95.94 and a 52-week high of $137.52.

Allegion (NYSE:ALLE) last issued its 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. The business had revenue of $965.60 million for the quarter, compared to analysts’ expectations of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.76 EPS. As a group, sell-side analysts forecast that Allegion plc will post 7.22 earnings per share for the current fiscal 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.