Allegion (NYSE:ALLE) Hits New 12-Month High - Here's What Happened

Key Points

• Allegion PLC (NYSE: ALLE) reached a new **52-week high** of $166.37 during trading, reflecting strong investor interest with a trading volume of 445,698 shares.
• Recent analyst upgrades included a target price increase from several firms, notably **Bank of America**, which raised its target from $110 to **$175**, while maintaining a neutral rating.
• The company's quarterly earnings report showed an EPS of **$2.04**, exceeding analyst expectations of $2.00, with a year-over-year revenue increase of **5.8%** to $1.02 billion.

Allegion PLC (NYSE:ALLE - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $166.37 and last traded at $166.04, with a volume of 445698 shares changing hands. The stock had previously closed at $164.82.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALLE. Mizuho lifted their price target on shares of Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. The Goldman Sachs Group increased their price target on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Robert W. Baird upped their price objective on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. started coverage on shares of Allegion in a research report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target for the company. Finally, Morgan Stanley boosted their target price on shares of Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $165.88.

Allegion Stock Down 0.6%

The company has a market capitalization of $14.17 billion, a PE ratio of 22.92, a P/E/G ratio of 3.56 and a beta of 1.05. The business has a 50-day moving average of $146.76 and a 200 day moving average of $136.70. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.04. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $999.10 million. During the same quarter in the previous year, the business posted $1.96 earnings per share. Allegion's quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts predict that Allegion PLC will post 7.77 earnings per share for the current year.

Insider Buying and Selling at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the sale, the senior vice president owned 8,773 shares of the company's stock, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.23% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Allegion by 23.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 20,832 shares of the scientific and technical instruments company's stock worth $3,002,000 after purchasing an additional 4,000 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Allegion by 66.5% during the second quarter. Teacher Retirement System of Texas now owns 163,310 shares of the scientific and technical instruments company's stock worth $23,536,000 after acquiring an additional 65,241 shares during the period. Y Intercept Hong Kong Ltd raised its position in Allegion by 558.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 25,997 shares of the scientific and technical instruments company's stock valued at $3,747,000 after acquiring an additional 22,051 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Allegion by 32.4% in the second quarter. Envestnet Asset Management Inc. now owns 527,338 shares of the scientific and technical instruments company's stock valued at $76,000,000 after acquiring an additional 129,156 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Allegion by 8.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 20,946 shares of the scientific and technical instruments company's stock worth $3,019,000 after purchasing an additional 1,580 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Company 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.