Azzad Asset Management Inc. ADV Increases Position in Allegion plc (NYSE:ALLE)

Azzad Asset Management Inc. ADV lifted its position in shares of Allegion plc (NYSE:ALLE) by 7.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,999 shares of the scientific and technical instruments company’s stock after buying an additional 1,626 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Allegion were worth $2,954,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Boston Partners lifted its stake in Allegion by 1.5% in the 1st quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock worth $673,441,000 after purchasing an additional 72,773 shares in the last quarter. Van ECK Associates Corp boosted its stake in Allegion by 2.8% during the first quarter. Van ECK Associates Corp now owns 3,306,600 shares of the scientific and technical instruments company’s stock valued at $445,432,000 after buying an additional 90,951 shares during the last quarter. Brown Advisory Inc. grew its holdings in Allegion by 33.0% during the 4th quarter. Brown Advisory Inc. now owns 1,895,352 shares of the scientific and technical instruments company’s stock valued at $240,122,000 after buying an additional 470,104 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Allegion in the 4th quarter worth approximately $120,959,000. Finally, Norges Bank bought a new position in shares of Allegion during the 4th quarter valued at approximately $110,740,000. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 1.1 %

Shares of Allegion stock traded up $1.53 during trading on Friday, hitting $138.84. The stock had a trading volume of 682,071 shares, compared to its average volume of 695,741. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. Allegion plc has a 12 month low of $95.94 and a 12 month high of $141.99. The stock has a market cap of $12.14 billion, a PE ratio of 22.65, a PEG ratio of 4.08 and a beta of 1.13. The firm’s fifty day simple moving average is $127.22 and its 200-day simple moving average is $126.70.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company had revenue of $965.60 million during the quarter, compared to analysts’ expectations of $953.63 million. During the same quarter in the previous year, the business earned $1.76 EPS. Allegion’s revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts expect that Allegion plc will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ALLE shares. Barclays boosted their price target on shares of Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their target price on shares of Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $125.40.

About Allegion

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.