Allegion PLC (NYSE:ALLE) SVP Tracy L. Kemp Sells 3,849 Shares

Key Points

• Allegion PLC SVP Tracy L. Kemp sold 3,849 shares at an average price of $164.92, totaling $634,777.08, which reflects a 30.49% decrease in her position.
• The company's latest earnings report showed $2.04 earnings per share (EPS), exceeding the consensus estimate of $2.00, while revenues reached $1.02 billion.
• Several analysts have recently revised their target prices for Allegion, with Barclays setting a new target of $156.00 and JPMorgan raising it to $170.00, reflecting varied outlooks on the stock.

Allegion PLC (NYSE:ALLE - Get Free Report) SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the transaction, the senior vice president owned 8,773 shares of the company's stock, valued at $1,446,843.16. This trade represents a 30.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Allegion Trading Up 0.2%

Shares of ALLE stock traded up $0.33 during trading hours on Tuesday, hitting $164.00. The company had a trading volume of 1,109,434 shares, compared to its average volume of 992,609. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $166.22. The company's fifty day moving average is $144.94 and its 200 day moving average is $135.80. The stock has a market capitalization of $14.11 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 3.98 and a beta of 1.01. 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 released its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 EPS. Research analysts expect that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegion

Several institutional investors and hedge funds have recently modified their holdings of ALLE. Vanguard Group Inc. increased its position in Allegion by 0.5% during the first quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company's stock worth $1,404,672,000 after purchasing an additional 48,615 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Allegion by 22.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company's stock valued at $623,104,000 after buying an additional 878,796 shares during the period. Boston Partners increased its holdings in shares of Allegion by 0.8% during the 1st quarter. Boston Partners now owns 4,752,391 shares of the scientific and technical instruments company's stock worth $619,700,000 after buying an additional 35,635 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Allegion by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company's stock worth $280,607,000 after buying an additional 41,417 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Allegion by 6.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,147,110 shares of the scientific and technical instruments company's stock valued at $280,112,000 after acquiring an additional 136,638 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Allegion from $135.00 to $156.00 and gave the company an "underweight" rating in a research report on Friday. JPMorgan Chase & Co. began coverage on shares of Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Robert W. Baird upped their price target on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Wells Fargo & Company raised their target price on shares of Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday. One investment 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. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $165.88.

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.

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