Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Stock Holdings in Allegion PLC $ALLE

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Allegion PLC by 23.5%, owning 16,832 shares valued at approximately $2.20 million.
• Insider selling occurred with senior vice president Timothy P. Eckersley and Tracy L. Kemp offloading over 14,000 shares combined, representing significant decreases in their ownership.
• Analysts from firms like Goldman Sachs and Bank of America have raised their price targets for Allegion, indicating a generally positive outlook with the stock currently averaging a target price of $166.75.

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Allegion PLC (NYSE:ALLE - Free Report) by 23.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,832 shares of the scientific and technical instruments company's stock after purchasing an additional 3,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Allegion were worth $2,196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Avantax Advisory Services Inc. raised its position in shares of Allegion by 1.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company's stock valued at $545,000 after purchasing an additional 73 shares during the last quarter. Whittier Trust Co. grew its position in Allegion by 16.6% during the 1st quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company's stock worth $75,000 after purchasing an additional 82 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of 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 worth $469,000 after buying an additional 83 shares during the last quarter. DMC Group LLC lifted its stake in shares of Allegion by 2.2% during the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company's stock worth $516,000 after buying an additional 85 shares during the period. Finally, Rovin Capital UT ADV lifted its stake in shares of Allegion by 2.3% during the first quarter. Rovin Capital UT ADV now owns 4,215 shares of the scientific and technical instruments company's stock worth $550,000 after buying an additional 96 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction 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 $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Allegion Stock Performance

Allegion stock traded up $4.7580 during mid-day trading on Friday, hitting $171.9680. The company had a trading volume of 441,710 shares, compared to its average volume of 976,797. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $172.67. The company's fifty day moving average is $154.14 and its 200-day moving average is $139.98. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 3.63 and a beta of 1.05.

Allegion (NYSE:ALLE - Get Free Report) last announced its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $999.10 million. During the same period in the prior year, the company posted $1.96 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Equities research analysts predict that Allegion PLC will post 7.77 EPS for the current year.

Analyst Ratings Changes

ALLE has been the subject of a number of research reports. Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. JPMorgan Chase & Co. initiated coverage on Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price for the company. Morgan Stanley upped their target price on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Robert W. Baird raised their price target on shares of Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group upped their price objective on shares of Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Allegion presently has an average rating of "Hold" and a consensus price target 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.