Forsta AP Fonden Sells 1,600 Shares of Allegion PLC (NYSE:ALLE)

Key Points

• Forsta AP Fonden reduced its holding in Allegion PLC by 4.5%, selling 1,600 shares and now owns 33,600 shares worth approximately $4.38 million.
• Several institutional investors have increased their stakes in Allegion, with Federated Hermes Inc. boosting its holdings by 46.5% in the fourth quarter.
• Analyst ratings for Allegion show a shift, with price targets rising significantly; for instance, Bank of America upgraded its rating and increased the price target from $110.00 to $175.00.

Forsta AP Fonden reduced its position in Allegion PLC (NYSE:ALLE - Free Report) by 4.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 33,600 shares of the scientific and technical instruments company's stock after selling 1,600 shares during the period. Forsta AP Fonden's holdings in Allegion were worth $4,383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. boosted its holdings in shares of 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 worth $459,000 after acquiring an additional 1,116 shares during the period. Cerity Partners LLC boosted its holdings in shares of Allegion by 39.8% in the fourth quarter. Cerity Partners LLC now owns 26,432 shares of the scientific and technical instruments company's stock worth $3,492,000 after acquiring an additional 7,529 shares during the period. Bank of Montreal Can boosted its holdings in shares of Allegion by 12.0% in the fourth quarter. Bank of Montreal Can now owns 106,305 shares of the scientific and technical instruments company's stock worth $13,892,000 after acquiring an additional 11,367 shares during the period. Martingale Asset Management L P bought a new position in shares of Allegion in the fourth quarter worth $523,000. Finally, Bessemer Group Inc. increased its position in shares of Allegion by 4.4% during the fourth quarter. Bessemer Group Inc. now owns 17,718 shares of the scientific and technical instruments company's stock valued at $2,315,000 after buying an additional 744 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ALLE has been the topic of several analyst reports. Robert W. Baird upped their price target on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and upped their price target for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Morgan Stanley upped their price target on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Mizuho upped their price target on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company upped their price target on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. One investment 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. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $165.88.

Allegion Stock Up 0.0%

Shares of NYSE ALLE opened at $163.77 on Monday. Allegion PLC has a 12 month low of $116.57 and a 12 month 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 firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 3.51 and a beta of 1.05. The business has a 50-day moving average of $148.95 and a 200-day moving average of $137.86.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings data 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. Allegion had a return on equity of 42.62% and a net margin of 16.15%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $999.10 million. During the same quarter in the previous year, the firm earned $1.96 earnings per share. Allegion's revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Insider Transactions at Allegion

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

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.

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