Bessemer Group Inc. Boosts Position in Allegion PLC (ALLE)
Bessemer Group Inc. boosted its stake in shares of Allegion PLC (NYSE:ALLE) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,374,177 shares of the scientific and technical instruments company’s stock after purchasing an additional 39,160 shares during the quarter. Bessemer Group Inc. owned approximately 1.45% of Allegion PLC worth $118,825,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Whittier Trust Co. increased its holdings in Allegion PLC by 94.2% during the 3rd quarter. Whittier Trust Co. now owns 1,237 shares of the scientific and technical instruments company’s stock worth $107,000 after purchasing an additional 600 shares during the period. YorkBridge Wealth Partners LLC purchased a new stake in Allegion PLC during the 3rd quarter worth about $107,000. Tredje AP fonden purchased a new stake in Allegion PLC during the 2nd quarter worth about $105,000. QS Investors LLC increased its holdings in Allegion PLC by 1.2% during the 2nd quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock worth $106,000 after purchasing an additional 16 shares during the period. Finally, Acrospire Investment Management LLC increased its holdings in Allegion PLC by 75.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the scientific and technical instruments company’s stock worth $114,000 after purchasing an additional 600 shares during the period. Institutional investors own 90.22% of the company’s stock.
Several equities research analysts have weighed in on the company. Wells Fargo & Company restated an “outperform” rating and set a $100.00 price target (up previously from $90.00) on shares of Allegion PLC in a report on Wednesday, October 18th. BidaskClub downgraded Allegion PLC from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. Robert W. Baird restated a “hold” rating on shares of Allegion PLC in a report on Tuesday, September 26th. Zacks Investment Research downgraded Allegion PLC from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Wolfe Research upgraded Allegion PLC from a “market perform” rating to an “outperform” rating in a report on Monday, October 30th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $89.75.
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Allegion PLC (NYSE ALLE) traded down $1.63 on Thursday, hitting $81.80. The stock had a trading volume of 88,045 shares, compared to its average volume of 925,611. Allegion PLC has a fifty-two week low of $63.71 and a fifty-two week high of $89.81. The stock has a market cap of $7,938.91, a P/E ratio of 22.76, a P/E/G ratio of 1.57 and a beta of 1.10. The company has a current ratio of 2.14, a quick ratio of 1.54 and a debt-to-equity ratio of 3.79.
Allegion PLC (NYSE:ALLE) last released its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $1.02 EPS for the quarter, meeting analysts’ consensus estimates of $1.02. Allegion PLC had a return on equity of 154.50% and a net margin of 14.37%. The business had revenue of $609.40 million for the quarter, compared to the consensus estimate of $622.18 million. During the same quarter in the prior year, the business posted $0.93 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. analysts forecast that Allegion PLC will post 3.79 EPS for the current year.
Allegion PLC Company Profile
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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