Allianz Asset Management GmbH Invests $328,000 in Allegion PLC (ALLE)
Allianz Asset Management GmbH purchased a new stake in shares of Allegion PLC (NYSE:ALLE) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,845 shares of the scientific and technical instruments company’s stock, valued at approximately $328,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALLE. Macquarie Group Ltd. bought a new stake in Allegion in the fourth quarter worth $111,000. Commerzbank Aktiengesellschaft FI bought a new stake in Allegion in the first quarter worth $205,000. FDx Advisors Inc. bought a new stake in Allegion in the first quarter worth $209,000. Claraphi Advisory Network LLC bought a new stake in Allegion in the first quarter worth $217,000. Finally, HighVista Strategies LLC boosted its holdings in Allegion by 17.9% in the first quarter. HighVista Strategies LLC now owns 4,600 shares of the scientific and technical instruments company’s stock worth $392,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 88.14% of the company’s stock.
Allegion opened at $82.57 on Tuesday, Marketbeat reports. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.24 and a current ratio of 1.80. Allegion PLC has a 12 month low of $73.85 and a 12 month high of $89.81. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 1.39 and a beta of 1.06.
Several equities research analysts have commented on the company. Zacks Investment Research downgraded Allegion from a “buy” rating to a “hold” rating in a report on Friday, July 20th. ValuEngine raised Allegion from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Wells Fargo & Co dropped their target price on Allegion from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Tuesday, July 17th. Finally, Berenberg Bank downgraded Allegion from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $93.40.
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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