Citigroup Inc. Boosts Holdings in Allegion PLC $ALLE

Key Points

• Citigroup Inc. increased its holdings in Allegion PLC by 41.7% in the first quarter, owning a total of 109,247 shares valued at approximately $14.25 million.
• Recent analysts' evaluations have set varying price targets for Allegion, with Morgan Stanley raising theirs to $151 and JPMorgan Chase giving a target of $170, resulting in a consensus target price of $166.75.
• Allegion reported earnings of $2.04 per share for the last quarter, surpassing expectations, with a total revenue of $1.02 billion, marking a 5.8% year-over-year increase.

Citigroup Inc. grew its holdings in shares of Allegion PLC (NYSE:ALLE - Free Report) by 41.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 109,247 shares of the scientific and technical instruments company's stock after acquiring an additional 32,165 shares during the period. Citigroup Inc. owned about 0.13% of Allegion worth $14,252,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Federated Hermes Inc. lifted its holdings in Allegion by 46.5% in the fourth quarter. Federated Hermes Inc. now owns 3,516 shares of the scientific and technical instruments company's stock valued at $459,000 after buying an additional 1,116 shares during the period. Sagespring Wealth Partners LLC acquired a new position in Allegion in the fourth quarter valued at $259,000. Barclays PLC lifted its holdings in Allegion by 25.8% in the fourth quarter. Barclays PLC now owns 326,938 shares of the scientific and technical instruments company's stock valued at $42,724,000 after buying an additional 67,145 shares during the period. Mariner LLC lifted its holdings in Allegion by 8.5% in the fourth quarter. Mariner LLC now owns 16,809 shares of the scientific and technical instruments company's stock valued at $2,197,000 after buying an additional 1,310 shares during the period. Finally, XTX Topco Ltd acquired a new position in Allegion in the fourth quarter valued at $623,000. Institutional investors own 92.21% of the company's stock.

Allegion Stock Up 1.4%

Allegion stock traded up $2.3850 during midday trading on Tuesday, hitting $169.5850. 149,898 shares of the stock were exchanged, compared to its average volume of 980,569. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $170.29. The stock has a market capitalization of $14.56 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The business's 50-day moving average price is $152.35 and its 200-day moving average price is $139.30. 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 (NYSE:ALLE - Get Free Report) last released 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 analysts' expectations of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, research analysts expect that Allegion PLC will post 7.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 30,023 shares in the company, valued at $4,946,589.48. This represents a 26.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction on Friday, July 25th. The stock was 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 $1,446,843.16. The trade was 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.

Analyst Ratings Changes

Several equities research analysts have weighed in on ALLE shares. Barclays raised shares of Allegion from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $156.00 to $163.00 in a research note on Thursday, August 14th. Mizuho lifted their price target on shares of 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 shares of Allegion from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. JPMorgan Chase & Co. started coverage on shares of Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price target for the company. Finally, Wells Fargo & Company lifted their price target 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. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Allegion currently has an average rating of "Hold" and a consensus target price of $166.75.

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.