Allegion PLC $ALLE Shares Sold by NS Partners Ltd

Key Points

• NS Partners Ltd cut its Allegion stake by 34.8% in the second quarter, selling 24,975 shares and retaining 46,708 shares valued at approximately $6.6 million. Institutional investors and hedge funds collectively own 92.21% of Allegion.
• Analyst sentiment remains largely cautious, with a consensus “Hold” rating and an average price target of $164.75, although targets range from $142 to $170 and Longbow Research upgraded the stock to “Buy.”
• Allegion reported stronger-than-expected quarterly results, posting $2.40 in adjusted EPS versus a $2.22 estimate and $1.15 billion in revenue. Shares opened at $155.72, while company insiders have sold about $1.76 million of stock over the past 90 days.

NS Partners Ltd trimmed its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 34.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,708 shares of the scientific and technical instruments company's stock after selling 24,975 shares during the quarter. NS Partners Ltd owned 0.05% of Allegion worth $6,562,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Boston Partners increased its position in shares of Allegion by 1.0% in the 3rd quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company's stock valued at $842,026,000 after purchasing an additional 48,199 shares during the last quarter. State Street Corp raised its stake in Allegion by 6.6% during the 3rd quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company's stock worth $750,584,000 after acquiring an additional 260,973 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Allegion by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,693,831 shares of the scientific and technical instruments company's stock worth $427,521,000 after purchasing an additional 13,880 shares during the last quarter. Invesco Ltd. grew its stake in Allegion by 12.7% during the 4th quarter. Invesco Ltd. now owns 1,402,682 shares of the scientific and technical instruments company's stock worth $223,335,000 after buying an additional 157,724 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Allegion by 4.5% in the 3rd quarter. Northern Trust Corp now owns 1,210,063 shares of the scientific and technical instruments company's stock valued at $214,605,000 after acquiring an additional 52,612 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on ALLE. Robert W. Baird set a $170.00 price objective on shares of Allegion in a research report on Friday, July 24th. JPMorgan Chase & Co. increased their target price on Allegion from $150.00 to $170.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Longbow Research upgraded shares of Allegion from a "neutral" rating to a "buy" rating and set a $165.00 target price on the stock in a research report on Thursday, June 11th. Morgan Stanley lowered their target price on shares of Allegion from $165.00 to $142.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 3rd. Finally, Weiss Ratings raised Allegion from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $164.75.

Allegion Stock Down 1.1%

Shares of NYSE ALLE opened at $155.72 on Tuesday. Allegion PLC has a 1 year low of $125.00 and a 1 year high of $183.11. The firm's 50 day moving average price is $151.20 and its 200 day moving average price is $145.91. The firm has a market cap of $13.24 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 3.20 and a beta of 0.84. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.93.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.18. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.12 billion. Allegion had a return on equity of 35.41% and a net margin of 15.36%.Allegion's revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.04 EPS. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. As a group, sell-side analysts anticipate that Allegion PLC will post 8.92 earnings per share for the current year.

Insider Activity at Allegion

In other Allegion news, CAO Nickolas A. Musial sold 687 shares of Allegion stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $155.00, for a total value of $106,485.00. Following the transaction, the chief accounting officer owned 6,798 shares in the company, valued at $1,053,690. This trade represents a 9.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy P. Eckersley sold 6,417 shares of the company's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $157.26, for a total value of $1,009,137.42. Following the sale, the senior vice president owned 29,919 shares of the company's stock, valued at approximately $4,705,061.94. The trade was a 17.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 11,288 shares of company stock worth $1,764,593. Corporate insiders own 0.64% of the company's stock.

About Allegion

Allegion plc NYSE: ALLE is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion's core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company's product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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