Earned Wealth Advisors LLC Acquires Shares of 1,664 Allegion PLC (NYSE:ALLE)

Key Points

• Earned Wealth Advisors LLC has made a new investment of $217,000 in Allegion PLC, purchasing 1,664 shares during the first quarter.
• Allegion reported earnings of $2.04 per share, exceeding analysts' estimates, while also showing a 5.8% year-over-year revenue increase to $1.02 billion.
• Institutional investors own 92.21% of Allegion's stock, indicating strong confidence among major shareholders in the company's performance.

Earned Wealth Advisors LLC bought a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,664 shares of the scientific and technical instruments company's stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Renaissance Technologies LLC increased its stake in Allegion by 438.6% during the fourth quarter. Renaissance Technologies LLC now owns 267,700 shares of the scientific and technical instruments company's stock worth $34,983,000 after acquiring an additional 218,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Allegion by 324.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company's stock worth $5,606,000 after purchasing an additional 32,842 shares during the last quarter. Merit Financial Group LLC raised its holdings in Allegion by 284.1% in the 1st quarter. Merit Financial Group LLC now owns 8,285 shares of the scientific and technical instruments company's stock valued at $1,081,000 after buying an additional 6,128 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Allegion by 6.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company's stock valued at $15,768,000 after buying an additional 7,645 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in Allegion by 10.6% in the first quarter. Asset Management One Co. Ltd. now owns 37,648 shares of the scientific and technical instruments company's stock valued at $4,912,000 after buying an additional 3,618 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Mizuho boosted 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 upgraded shares of Allegion from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $110.00 to $175.00 in a report on Tuesday, July 29th. Wells Fargo & Company boosted their price target 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 increased 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. Finally, The Goldman Sachs Group lifted their target price on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $165.88.

Allegion Stock Down 0.5%

NYSE:ALLE traded down $0.86 during trading hours on Thursday, hitting $163.63. The company's stock had a trading volume of 953,900 shares, compared to its average volume of 1,150,645. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $167.24. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $14.05 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 3.53 and a beta of 1.05. The stock has a fifty day moving average of $148.53 and a 200-day moving average of $137.59.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data 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 return on equity of 42.62% and a net margin of 16.15%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. During the same quarter in the prior year, the business posted $1.96 EPS. The business's revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts forecast that Allegion PLC will post 7.77 earnings per share for the current year.

Insider Activity

In related news, SVP Tracy L. Kemp sold 3,849 shares of Allegion 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 sale, the senior vice president directly owned 8,773 shares in the company, valued at $1,446,843.16. This trade represents a 30.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.23% of the company's stock.

Allegion 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.