Dimensional Fund Advisors LP Sells 22,181 Shares of Allegion PLC $ALLE

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Allegion PLC by 2.5%, owning 860,206 shares worth approximately $112.2 million after selling 22,181 shares in the 1st quarter.
• Allegion's stock received positive ratings from analysts, with price targets set between $155.00 and $175.00, indicating a generally favorable outlook for the company's stock performance.
• Allegion reported earnings of $2.04 per share, beating estimates, with a year-over-year revenue increase of 5.8% for the quarter, signaling strong financial performance.

Dimensional Fund Advisors LP reduced its position in Allegion PLC (NYSE:ALLE - Free Report) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 860,206 shares of the scientific and technical instruments company's stock after selling 22,181 shares during the quarter. Dimensional Fund Advisors LP owned 1.00% of Allegion worth $112,203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC boosted its holdings in Allegion by 6.4% during the 4th quarter. NewEdge Advisors LLC now owns 2,418 shares of the scientific and technical instruments company's stock valued at $316,000 after acquiring an additional 146 shares during the period. GeoWealth Management LLC boosted its holdings in Allegion by 259.3% during the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock valued at $40,000 after acquiring an additional 223 shares during the period. MetLife Investment Management LLC boosted its holdings in Allegion by 1.6% during the 4th quarter. MetLife Investment Management LLC now owns 23,013 shares of the scientific and technical instruments company's stock valued at $3,007,000 after acquiring an additional 356 shares during the period. MML Investors Services LLC boosted its holdings in Allegion by 3.8% during the 4th quarter. MML Investors Services LLC now owns 36,778 shares of the scientific and technical instruments company's stock valued at $4,806,000 after acquiring an additional 1,361 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Allegion by 310.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,766 shares of the scientific and technical instruments company's stock valued at $884,000 after acquiring an additional 5,119 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Allegion

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the transaction, the senior vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 8,773 shares of the company's stock, valued at $1,446,843.16. This represents a 30.49% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley increased 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. The Goldman Sachs Group increased their target price on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Barclays upgraded Allegion from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $156.00 to $163.00 in a report on Thursday, August 14th. Robert W. Baird increased their price objective on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Bank of America upgraded 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 report on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, Allegion presently has a consensus rating of "Hold" and an average target price of $166.75.

Allegion Stock Down 0.5%

Shares of NYSE:ALLE traded down $0.92 during trading on Thursday, hitting $171.08. The stock had a trading volume of 848,302 shares, compared to its average volume of 846,980. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $172.95. The company has a market capitalization of $14.69 billion, a PE ratio of 23.76, a PEG ratio of 3.70 and a beta of 1.05. The firm's fifty day moving average is $157.68 and its 200 day moving average is $141.44. 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 (NYSE:ALLE - Get Free Report) last announced 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. 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 analyst estimates of $999.10 million. During the same quarter in the prior year, the company earned $1.96 EPS. The business's revenue was up 5.8% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Analysts anticipate that Allegion PLC will post 7.77 EPS for the current fiscal year.

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.