ASR Vermogensbeheer N.V. Acquires New Shares in Allegion PLC (NYSE:ALLE)

Key Points

• ASR Vermogensbeheer N.V. acquired 3,823 shares of Allegion PLC, valued at approximately $499,000, as reported in its Form 13F filing with the SEC.
• Major institutional investors, including Fiduciary Management and Lord Abbett & Co. LLC, significantly increased their stakes in Allegion, with 92.21% of the stock now owned by these institutional investors.
• Allegion's stock received positive updates from analysts, with target prices raised by multiple firms, reflecting a consensus target price of $165.88 and an average rating of "Hold."

ASR Vermogensbeheer N.V. bought a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,823 shares of the scientific and technical instruments company's stock, valued at approximately $499,000.

Other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its holdings in Allegion by 438.6% during the 4th quarter. Renaissance Technologies LLC now owns 267,700 shares of the scientific and technical instruments company's stock worth $34,983,000 after purchasing an additional 218,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Allegion by 324.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company's stock worth $5,606,000 after purchasing an additional 32,842 shares in the last quarter. Merit Financial Group LLC increased its holdings in Allegion by 284.1% during the 1st quarter. Merit Financial Group LLC now owns 8,285 shares of the scientific and technical instruments company's stock worth $1,081,000 after purchasing an additional 6,128 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Allegion by 6.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company's stock worth $15,768,000 after purchasing an additional 7,645 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Allegion by 10.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 37,648 shares of the scientific and technical instruments company's stock valued at $4,912,000 after buying an additional 3,618 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Allegion Stock Performance

Shares of ALLE traded up $0.93 during midday trading on Tuesday, reaching $165.38. 22,845 shares of the stock were exchanged, compared to its average volume of 987,376. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $167.24. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. The company has a market cap of $14.20 billion, a P/E ratio of 22.97, a PEG ratio of 3.51 and a beta of 1.05. The stock's 50 day simple moving average is $149.46 and its 200 day simple moving average is $138.08.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%. Allegion's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 EPS. On average, sell-side analysts expect that Allegion PLC will post 7.77 earnings per share for the current year.

Insider Buying and Selling at Allegion

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the sale, the senior vice president directly owned 30,023 shares of the company's stock, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the transaction, the senior vice president directly 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 disclosure for this sale can be found here. Corporate insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Bank of America upgraded shares of Allegion from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. Wells Fargo & Company increased their price objective on shares of Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Robert W. Baird increased their price target on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Barclays increased their price target on Allegion from $135.00 to $156.00 and gave the company an "underweight" rating in a research report on Friday, July 25th. Finally, Mizuho increased their price target on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to data from 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.