William Blair Investment Management LLC increased its holdings in shares of Allegion PLC (NYSE:ALLE) by 59.3% in the third quarter, HoldingsChannel.com reports. The firm owned 290,346 shares of the scientific and technical instruments company’s stock after acquiring an additional 108,123 shares during the period. William Blair Investment Management LLC’s holdings in Allegion were worth $26,297,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Alliancebernstein L.P. raised its stake in Allegion by 3.6% during the third quarter. Alliancebernstein L.P. now owns 6,640,934 shares of the scientific and technical instruments company’s stock worth $601,470,000 after acquiring an additional 233,246 shares during the period. Standard Life Aberdeen plc raised its stake in Allegion by 3.7% during the second quarter. Standard Life Aberdeen plc now owns 2,280,914 shares of the scientific and technical instruments company’s stock worth $176,464,000 after acquiring an additional 80,338 shares during the period. Bessemer Group Inc. raised its stake in Allegion by 0.7% during the third quarter. Bessemer Group Inc. now owns 2,036,905 shares of the scientific and technical instruments company’s stock worth $184,484,000 after acquiring an additional 14,924 shares during the period. Pictet Asset Management Ltd. acquired a new stake in Allegion during the third quarter worth about $150,690,000. Finally, Tesco Pension Investment Ltd raised its stake in Allegion by 428.5% during the second quarter. Tesco Pension Investment Ltd now owns 1,219,558 shares of the scientific and technical instruments company’s stock worth $94,345,000 after acquiring an additional 988,781 shares during the period. 96.47% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Douglas P. Ranck sold 3,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $89.78, for a total transaction of $287,296.00. Following the transaction, the insider now owns 10,348 shares in the company, valued at $929,043.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is owned by company insiders.
Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, October 25th. The scientific and technical instruments company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.21 by $0.02. Allegion had a net margin of 11.75% and a return on equity of 85.03%. The company had revenue of $711.50 million for the quarter, compared to analyst estimates of $699.07 million. Sell-side analysts predict that Allegion PLC will post 4.49 EPS for the current year.
Several equities research analysts recently weighed in on ALLE shares. Credit Suisse Group started coverage on shares of Allegion in a research note on Friday, October 12th. They set an “outperform” rating and a $96.00 price objective on the stock. ValuEngine upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Tuesday, November 27th. Zacks Investment Research restated a “hold” rating on shares of Allegion in a research note on Monday, November 12th. Wells Fargo & Co raised their price target on shares of Allegion from $96.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 26th. Finally, Morgan Stanley began coverage on shares of Allegion in a research note on Monday, August 20th. They issued an “equal weight” rating and a $88.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $95.50.
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Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.
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