Allegion PLC (NYSE:ALLE) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its stake in Allegion PLC by 10.0%, owning approximately 1.72% of the company valued at $192.8 million after selling 163,866 shares in the first quarter.
• Allegion reported earnings per share of $2.04 for the last quarter, exceeding analysts' expectations of $2.00, with revenue rising by 5.8% year-over-year.
• Several analysts have increased their price targets for Allegion, with Wells Fargo raising their target from $150 to $175 and Goldman Sachs from $149 to $170, reflecting a generally positive outlook.

Deutsche Bank AG lessened its stake in Allegion PLC (NYSE:ALLE - Free Report) by 10.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,477,944 shares of the scientific and technical instruments company's stock after selling 163,866 shares during the quarter. Deutsche Bank AG owned about 1.72% of Allegion worth $192,813,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Fiduciary Management Inc. WI acquired a new position in shares of Allegion during the 4th quarter valued at $116,484,000. Lord Abbett & CO. LLC increased its stake in Allegion by 24.8% during the 4th quarter. Lord Abbett & CO. LLC now owns 2,089,239 shares of the scientific and technical instruments company's stock worth $273,022,000 after buying an additional 414,595 shares during the period. Squarepoint Ops LLC increased its stake in Allegion by 11,506.8% during the 4th quarter. Squarepoint Ops LLC now owns 272,295 shares of the scientific and technical instruments company's stock worth $35,584,000 after buying an additional 269,949 shares during the period. Brown Advisory Inc. increased its stake in Allegion by 13.2% during the 1st quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock worth $279,379,000 after buying an additional 249,295 shares during the period. Finally, Cooke & Bieler LP purchased a new stake in Allegion during the 1st quarter worth $32,519,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction dated 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 owned 8,773 shares in the company, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by corporate insiders.

Allegion Price Performance

Shares of NYSE:ALLE opened at $163.77 on Friday. 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 fifty-two week low of $116.57 and a fifty-two week high of $167.24. The firm has a 50-day simple moving average of $148.95 and a 200 day simple moving average of $137.79. The company has a market cap of $14.06 billion, a PE ratio of 22.75, a P/E/G ratio of 3.51 and a beta of 1.05.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $2.00 by $0.04. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The business 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 firm earned $1.96 EPS. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Allegion PLC will post 7.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ALLE shares. Barclays lifted their price target on shares of Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a research note on Friday, July 25th. The Goldman Sachs Group lifted their price target on shares of Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their target price on shares of Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. initiated coverage on shares of Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price on the stock. Finally, Robert W. Baird upped their target price on shares of Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Allegion presently has an average rating of "Hold" and a consensus target price of $165.88.

Allegion Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.