Boston Partners Has $619.70 Million Holdings in Allegion PLC (NYSE:ALLE)

Key Points

• Boston Partners increased its stake in Allegion PLC by 0.8%, owning 4,752,391 shares valued at approximately $619.7 million as of the end of the last reporting period.
• Several analysts have revised their price targets for Allegion, with a consensus target price of $165.88 and recommendations ranging from sell to buy ratings.
• Allegion reported earnings of $2.04 per share for the last quarter, exceeding analysts' expectations and demonstrating a 5.8% revenue increase year-over-year.

Boston Partners boosted its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 0.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,752,391 shares of the scientific and technical instruments company's stock after purchasing an additional 35,635 shares during the quarter. Boston Partners owned about 5.52% of Allegion worth $619,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. boosted its stake in Allegion by 1.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company's stock worth $545,000 after buying an additional 73 shares during the last quarter. Whittier Trust Co. boosted its stake in Allegion by 16.6% in the 1st quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company's stock worth $75,000 after buying an additional 82 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Allegion by 2.4% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company's stock worth $469,000 after buying an additional 83 shares during the last quarter. DMC Group LLC lifted its stake in shares of Allegion by 2.2% in the 1st quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company's stock valued at $516,000 after purchasing an additional 85 shares in the last quarter. Finally, Rovin Capital UT ADV lifted its stake in shares of Allegion by 2.3% in the 1st quarter. Rovin Capital UT ADV now owns 4,215 shares of the scientific and technical instruments company's stock valued at $550,000 after purchasing an additional 96 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Allegion

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the company's 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 $4,946,589.48. This represents a 26.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were 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 approximately $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.

Allegion Stock Performance

NYSE:ALLE traded down $1.33 during mid-day trading on Friday, hitting $167.22. 549,874 shares of the company's stock traded hands, compared to its average volume of 1,107,214. The firm has a 50 day moving average of $151.80 and a two-hundred day moving average of $139.02. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $170.11. The firm has a market capitalization of $14.36 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The company has a current ratio of 2.30, a quick ratio of 1.64 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 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 quarter in the prior year, the company earned $1.96 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ALLE shares. Morgan Stanley lifted their price objective on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. started 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 lifted their price objective on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. Finally, Robert W. Baird lifted 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. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $166.75.

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.