Credit Suisse AG Has $21.93 Million Holdings in Allegion PLC (ALLE)

Credit Suisse AG trimmed its stake in Allegion PLC (NYSE:ALLE) by 14.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 242,112 shares of the scientific and technical instruments company’s stock after selling 41,178 shares during the period. Credit Suisse AG owned about 0.25% of Allegion worth $21,928,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ALLE. Fort L.P. acquired a new position in Allegion in the second quarter worth $119,000. IFP Advisors Inc lifted its stake in shares of Allegion by 170.3% during the third quarter. IFP Advisors Inc now owns 2,030 shares of the scientific and technical instruments company’s stock valued at $184,000 after acquiring an additional 1,279 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Allegion during the third quarter valued at $189,000. Baldwin Investment Management LLC acquired a new position in shares of Allegion during the third quarter valued at $204,000. Finally, Creative Planning acquired a new position in shares of Allegion during the third quarter valued at $222,000. Hedge funds and other institutional investors own 96.47% of the company’s stock.

Several equities analysts have recently issued reports on ALLE shares. Zacks Investment Research raised Allegion from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Monday, October 29th. ValuEngine raised Allegion from a “hold” rating to a “buy” rating in a research note on Tuesday, November 27th. Morgan Stanley started coverage on Allegion in a research note on Monday, August 20th. They set an “equal weight” rating and a $88.00 price target on the stock. Wells Fargo & Co upped their price target on Allegion from $96.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 26th. Finally, Credit Suisse Group started coverage on Allegion in a research note on Friday, October 12th. They set an “outperform” rating and a $96.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $95.50.

Shares of ALLE opened at $91.59 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 2.37. Allegion PLC has a 12-month low of $73.85 and a 12-month high of $92.89. The firm has a market cap of $8.71 billion, a PE ratio of 20.86, a PEG ratio of 1.59 and a beta of 1.06.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, October 25th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.02. Allegion had a return on equity of 85.03% and a net margin of 11.75%. The business had revenue of $711.50 million for the quarter, compared to analyst estimates of $699.07 million. Research analysts anticipate that Allegion PLC will post 4.49 EPS for the current fiscal year.

In related news, insider Douglas P. Ranck sold 3,200 shares of the company’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $89.78, for a total value of $287,296.00. Following the completion of the sale, the insider now owns 10,348 shares in the company, valued at $929,043.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.75% of the company’s stock.

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About Allegion

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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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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