Cetera Investment Advisers trimmed its position in Allegion PLC (NYSE:ALLE - Free Report) by 26.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,239 shares of the scientific and technical instruments company's stock after selling 6,558 shares during the period. Cetera Investment Advisers' holdings in Allegion were worth $2,380,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. Avantax Advisory Services Inc. lifted its position in Allegion by 1.8% during 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 in the last quarter. AE Wealth Management LLC bought a new stake in Allegion during the 1st quarter worth about $306,000. Advisors Preferred LLC bought a new stake in Allegion during the 1st quarter worth about $729,000. Venturi Wealth Management LLC lifted its position in Allegion by 42.5% during the 1st quarter. Venturi Wealth Management LLC now owns 3,846 shares of the scientific and technical instruments company's stock worth $502,000 after buying an additional 1,147 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in Allegion by 2,273.8% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 35,584 shares of the scientific and technical instruments company's stock worth $4,650,000 after buying an additional 34,085 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.
Insider Activity
In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 8,773 shares in the company, valued at $1,446,843.16. This represents a 30.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
ALLE has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Robert W. Baird boosted their price objective on shares of Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Mizuho boosted their price objective on shares of Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. 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. Finally, JPMorgan Chase & Co. initiated coverage on shares of Allegion in a research note on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Allegion presently has an average rating of "Hold" and an average price target of $165.88.
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Allegion Stock Performance
ALLE traded up $0.03 on Friday, reaching $163.77. The company had a trading volume of 576,550 shares, compared to its average volume of 1,154,968. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $167.24. The stock has a market cap of $14.06 billion, a P/E ratio of 22.75, a P/E/G ratio of 3.51 and a beta of 1.05. The company's fifty day moving average is $148.95 and its 200 day moving average is $137.83. 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 (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS 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 for the quarter, compared to analyst estimates of $999.10 million. During the same quarter in the prior year, the business earned $1.96 EPS. Allegion's quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal year.
Allegion Company Profile
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Free Report)
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.
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