Allegion PLC $ALLE Shares Sold by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

Key Points

• BNP Paribas Asset Management Holding S.A. reduced its stake in Allegion PLC by 6.3%, holding 84,463 shares worth approximately $11 million after selling 5,727 shares in the first quarter.
• Several institutional investors have shown increased interest in Allegion, with GeoWealth Management LLC significantly increasing its position by 259.3% during the fourth quarter.
• Analyst upgrades have pushed Allegion's price targets higher, with Goldman Sachs and Robert W. Baird raising their expectations to $170 and $175 respectively, maintaining a consensus target price of $166.75.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,463 shares of the scientific and technical instruments company's stock after selling 5,727 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.10% of Allegion worth $11,019,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in shares of Allegion during the first quarter worth about $30,000. Colonial Trust Co SC boosted its position in Allegion by 192.9% in the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock valued at $33,000 after buying an additional 164 shares during the period. Garde Capital Inc. purchased a new position in Allegion in the 1st quarter valued at approximately $36,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Allegion by 91.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company's stock worth $39,000 after acquiring an additional 143 shares in the last quarter. Finally, GeoWealth Management LLC increased its position in shares of Allegion by 259.3% during the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock worth $40,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

ALLE has been the subject of a number of recent research reports. Morgan Stanley lifted their target price on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Mizuho upped their target price 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 objective on shares of Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Robert W. Baird lifted their price objective on shares of Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Barclays upgraded Allegion from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $156.00 to $163.00 in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $166.75.

Allegion Stock Down 0.8%

Shares of NYSE ALLE opened at $167.22 on Monday. The business has a 50-day moving average price of $151.80 and a 200 day moving average price of $139.06. The stock has a market cap of $14.36 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $170.11.

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

Insider Buying and Selling at Allegion

In related news, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction dated 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 owned 8,773 shares in the company, valued at $1,446,843.16. The trade was a 30.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.23% of the company's stock.

Allegion 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.

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