Centric Wealth Management Sells 3,476 Shares of Allegion PLC $ALLE

Key Points

• Centric Wealth Management reduced its stake in Allegion PLC by 22.2%, holding 12,173 shares valued at approximately $1.59 million after a sale of 3,476 shares during the first quarter.
• Several other investors, including Avantax Advisory Services and Whittier Trust Co., adjusted their positions, with institutional investors now owning 92.21% of the company's stock.
• Allegion's latest earnings report indicated a quarterly EPS of $2.04, exceeding estimates, and the company has projected FY 2025 earnings between $8.00 to $8.15.

Centric Wealth Management decreased its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 22.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,173 shares of the scientific and technical instruments company's stock after selling 3,476 shares during the quarter. Centric Wealth Management's holdings in Allegion were worth $1,588,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Voya Investment Management LLC grew its position in Allegion by 20.8% in the 4th quarter. Voya Investment Management LLC now owns 34,511 shares of the scientific and technical instruments company's stock valued at $4,510,000 after purchasing an additional 5,938 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Allegion by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 64,631 shares of the scientific and technical instruments company's stock worth $8,446,000 after purchasing an additional 652 shares during the period. Northern Trust Corp raised its stake in shares of Allegion by 22.4% during the 4th quarter. Northern Trust Corp now owns 971,276 shares of the scientific and technical instruments company's stock worth $126,926,000 after purchasing an additional 177,443 shares during the period. Lido Advisors LLC raised its stake in shares of Allegion by 8.6% during the 4th quarter. Lido Advisors LLC now owns 2,512 shares of the scientific and technical instruments company's stock worth $328,000 after purchasing an additional 198 shares during the period. Finally, AQR Capital Management LLC raised its stake in Allegion by 179.6% in the 4th quarter. AQR Capital Management LLC now owns 233,103 shares of the scientific and technical instruments company's stock valued at $30,462,000 after acquiring an additional 149,744 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALLE. JPMorgan Chase & Co. assumed coverage on Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price objective on the stock. Mizuho boosted their price objective on Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Zacks Research lowered Allegion from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. Finally, Robert W. Baird increased their price objective on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $166.75.

Allegion Stock Down 0.2%

Shares of NYSE:ALLE traded down $0.39 on Wednesday, hitting $167.60. 635,942 shares of the company traded hands, compared to its average volume of 972,014. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $172.95. 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 stock has a 50 day simple moving average of $159.35 and a 200-day simple moving average of $142.27. The company has a market cap of $14.39 billion, a PE ratio of 23.28, a PEG ratio of 3.65 and a beta of 1.07.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results 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. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. During the same period last year, the company earned $1.96 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, research analysts expect 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 stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total transaction of $634,777.08. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction 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 in the company, valued at $4,946,589.48. This trade 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.

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.