APG Asset Management N.V. Has $15.01 Million Stake in Allegion PLC $ALLE

Key Points

• APG Asset Management N.V. significantly reduced its holdings in Allegion PLC by 81.4%, ending with approximately 124,319 shares valued at $15.01 million after selling over half a million shares in the first quarter.
• Research analysts have upgraded Allegion's stock ratings, with Barclays raising the target price from $156 to $163 and Goldman Sachs increasing it from $149 to $170, indicating a generally positive outlook for the company.
• Allegion reported a quarterly earnings per share (EPS) of $2.04, exceeding expectations and marking a 5.8% increase in revenue compared to the same quarter last year.

APG Asset Management N.V. cut its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 81.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,319 shares of the scientific and technical instruments company's stock after selling 542,741 shares during the period. APG Asset Management N.V. owned about 0.14% of Allegion worth $15,014,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Bahl & Gaynor Inc. bought a new position in Allegion during the 1st quarter valued at about $7,348,000. Groupe la Francaise grew its position in shares of Allegion by 3.4% during the 1st quarter. Groupe la Francaise now owns 22,226 shares of the scientific and technical instruments company's stock worth $2,894,000 after buying an additional 723 shares in the last quarter. Allstate Corp raised its holdings in shares of Allegion by 61.1% in the first quarter. Allstate Corp now owns 3,847 shares of the scientific and technical instruments company's stock valued at $502,000 after acquiring an additional 1,459 shares in the last quarter. Compound Planning Inc. bought a new position in Allegion during the 1st quarter worth about $221,000. Finally, Norinchukin Bank The raised its holdings in shares of Allegion by 12.9% in the 1st quarter. Norinchukin Bank The now owns 3,941 shares of the scientific and technical instruments company's stock valued at $514,000 after purchasing an additional 449 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America upgraded shares of Allegion from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. Wells Fargo & Company lifted their price target on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Mizuho boosted their price objective on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a report on Friday, July 25th. JPMorgan Chase & Co. began coverage on Allegion in a report on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price objective for the company. Finally, The Goldman Sachs Group boosted their price objective on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $166.75.

Insider Activity at Allegion

In related news, SVP Timothy P. Eckersley sold 10,810 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tracy L. Kemp sold 3,849 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction of $634,777.08. Following the completion of the transaction, the senior vice president directly owned 8,773 shares in the company, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company's stock.

Allegion Trading Down 1.0%

Shares of NYSE ALLE traded down $1.63 during mid-day trading on Friday, reaching $169.34. 397,867 shares of the company's stock were exchanged, compared to its average volume of 971,526. The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 3.70 and a beta of 1.05. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $172.95. The company's 50-day moving average is $157.68 and its 200-day moving average is $141.44.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.04. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $999.10 million. During the same quarter last year, the company earned $1.96 EPS. Allegion's revenue for the quarter 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 expect 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.