Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Allegion plc (NYSE:ALLE)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Allegion plc (NYSE:ALLE) by 30.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,060 shares of the scientific and technical instruments company’s stock after buying an additional 26,048 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Allegion were worth $15,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALLE. Massachusetts Financial Services Co. MA purchased a new position in Allegion in the 4th quarter worth approximately $120,959,000. Norges Bank purchased a new position in Allegion in the 4th quarter worth approximately $110,740,000. APG Asset Management US Inc. purchased a new position in Allegion in the 4th quarter worth approximately $66,449,000. Brown Advisory Inc. lifted its stake in Allegion by 33.0% in 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. Finally, Van ECK Associates Corp lifted its stake in Allegion by 15.9% in the 4th quarter. Van ECK Associates Corp now owns 3,215,649 shares of the scientific and technical instruments company’s stock worth $407,391,000 after purchasing an additional 441,882 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ALLE shares. Wells Fargo & Company decreased their target price on shares of Allegion from $141.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Barclays cut their price target on shares of Allegion from $116.00 to $112.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. UBS Group raised their price target on shares of Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $123.67.

Insider Buying and Selling

In related news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 11,103 shares of the company’s stock, valued at approximately $1,354,343.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

Allegion Trading Down 1.8 %

Allegion stock traded down $2.33 during trading on Friday, hitting $125.08. The company had a trading volume of 151,655 shares, compared to its average volume of 688,862. Allegion plc has a 1-year low of $95.94 and a 1-year high of $136.91. The company has a current ratio of 1.31, a quick ratio of 0.87 and a debt-to-equity ratio of 1.18. The company’s 50 day simple moving average is $119.88 and its 200-day simple moving average is $124.99. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 3.99 and a beta of 1.13.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The firm had revenue of $893.90 million during the quarter, compared to the consensus estimate of $888.27 million. During the same quarter last year, the firm earned $1.58 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, analysts expect that Allegion plc will post 7.09 EPS 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.