Bahl & Gaynor Inc. Takes Position in Allegion PLC $ALLE

Key Points

• Bahl & Gaynor Inc. acquired 56,325 shares of Allegion PLC valued at approximately $7.35 million, representing 0.07% ownership of the company.
• Allegion reported earnings of $2.04 per share, exceeding expectations, with a revenue of $1.02 billion for the quarter, marking a 5.8% year-over-year increase.
• Several institutional investors have significantly increased their stakes in Allegion, with 92.21% of the company's stock now owned by institutional investors and hedge funds.

Bahl & Gaynor Inc. bought a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 56,325 shares of the scientific and technical instruments company's stock, valued at approximately $7,348,000. Bahl & Gaynor Inc. owned approximately 0.07% of Allegion as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ALLE. NewEdge Advisors LLC raised its holdings in Allegion by 6.4% during the fourth quarter. NewEdge Advisors LLC now owns 2,418 shares of the scientific and technical instruments company's stock worth $316,000 after acquiring an additional 146 shares in the last quarter. GeoWealth Management LLC raised its holdings in Allegion by 259.3% during the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock worth $40,000 after acquiring an additional 223 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Allegion by 1.6% during the fourth quarter. MetLife Investment Management LLC now owns 23,013 shares of the scientific and technical instruments company's stock worth $3,007,000 after acquiring an additional 356 shares in the last quarter. MML Investors Services LLC raised its holdings in Allegion by 3.8% during the fourth quarter. MML Investors Services LLC now owns 36,778 shares of the scientific and technical instruments company's stock worth $4,806,000 after acquiring an additional 1,361 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Allegion by 310.8% in the fourth 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 buying an additional 5,119 shares during the period. Institutional investors own 92.21% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. assumed 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. Wells Fargo & Company upped their price objective on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. The Goldman Sachs Group upped their price objective on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Morgan Stanley upped 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. Finally, Robert W. Baird upped 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. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $166.75.

Insiders Place Their Bets

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the firm's stock in a transaction 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 sale, the senior vice president 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the sale, the senior vice president directly owned 30,023 shares in the company, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.23% of the company's stock.

Allegion Price Performance

NYSE:ALLE traded down $1.32 during trading hours on Friday, reaching $169.65. 164,583 shares of the company were exchanged, compared to its average volume of 970,176. The company has a market capitalization of $14.56 billion, a P/E ratio of 23.56, a P/E/G ratio of 3.70 and a beta of 1.05. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $172.95. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. The business has a 50 day moving average of $157.68 and a 200 day moving average of $141.44.

Allegion (NYSE:ALLE - Get Free Report) last issued its earnings results 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. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The company's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Research analysts forecast that Allegion PLC will post 7.77 EPS for the current year.

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.