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 acquired a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,664 shares of the scientific and technical instruments company's stock, valued at approximately $217,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Avantax Advisory Services Inc. raised its stake in Allegion by 1.8% in the first quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company's stock valued at $545,000 after buying an additional 73 shares during the last quarter. Whittier Trust Co. raised its stake in Allegion by 16.6% in the first quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company's stock valued at $75,000 after buying an additional 82 shares during the last quarter. Waterloo Capital L.P. raised its stake in Allegion by 1.2% in the fourth quarter. Waterloo Capital L.P. now owns 7,180 shares of the scientific and technical instruments company's stock valued at $938,000 after buying an additional 83 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Allegion by 2.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company's stock valued at $469,000 after buying an additional 83 shares during the last quarter. Finally, DMC Group LLC raised its stake in Allegion by 2.2% in the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company's stock valued at $516,000 after buying an additional 85 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Performance

Allegion stock traded up $0.03 during midday trading on Friday, hitting $163.77. 576,550 shares of the company were exchanged, compared to its average volume of 1,154,968. The firm has a market capitalization of $14.06 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 3.51 and a beta of 1.05. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $167.24. The business has a fifty day simple moving average of $148.95 and a two-hundred day simple moving average of $137.79. 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 posted its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, topping the consensus estimate of $2.00 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%. Allegion's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $1.96 earnings per share. On average, sell-side analysts forecast that Allegion PLC will post 7.77 earnings per share for the current year.

Insider Buying and Selling

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the firm's stock in a transaction that occurred 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

ALLE has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Robert W. Baird increased their price objective on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Barclays increased their price objective on Allegion from $135.00 to $156.00 and gave the company an "underweight" rating in a report on Friday, July 25th. The Goldman Sachs Group increased 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. Finally, Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $110.00 to $175.00 in a report on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $165.88.

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.