Fox Run Management L.L.C. Invests $939,000 in Allegion PLC $ALLE

Key Points

• Fox Run Management L.L.C. acquired a new stake in Allegion PLC, buying 7,199 shares valued at approximately $939,000 in Q1 2023.
• Analysts have issued positive ratings for Allegion, with target prices ranging from $170.00 to $175.00, indicating expected growth in the company’s value.
• Allegion reported quarterly earnings of $2.04 per share, surpassing analysts' expectations, with a revenue of $1.02 billion which is a 5.8% increase compared to the previous year.

Fox Run Management L.L.C. purchased a new position in Allegion PLC (NYSE:ALLE - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 7,199 shares of the scientific and technical instruments company's stock, valued at approximately $939,000.

A number of other institutional investors also recently made changes to their positions in ALLE. Wayfinding Financial LLC acquired a new stake in shares of Allegion in the 1st quarter worth approximately $30,000. Colonial Trust Co SC lifted its stake in Allegion by 192.9% during the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock valued at $33,000 after purchasing an additional 164 shares during the last quarter. Garde Capital Inc. acquired a new stake in Allegion during the first quarter valued at approximately $36,000. Cary Street Partners Investment Advisory LLC lifted its stake in Allegion by 91.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company's stock valued at $39,000 after purchasing an additional 143 shares during the last quarter. Finally, GeoWealth Management LLC lifted its stake in Allegion by 259.3% during the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock valued at $40,000 after purchasing an additional 223 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on ALLE shares. Morgan Stanley increased their target price on shares of Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Bank of America raised shares of Allegion from an "underperform" rating to a "neutral" rating and increased their target price for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. Mizuho increased their target price 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. Wells Fargo & Company increased their target price 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. Finally, Barclays raised shares of Allegion from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $156.00 to $163.00 in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $166.75.

Allegion Trading Up 1.6%

Shares of NYSE:ALLE traded up $2.6220 during mid-day trading on Tuesday, hitting $169.8220. The stock had a trading volume of 843,992 shares, compared to its average volume of 984,816. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30. The company has a market cap of $14.58 billion, a PE ratio of 23.59, a P/E/G ratio of 3.58 and a beta of 1.05. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $170.29. The company's 50 day moving average is $152.96 and its 200-day moving average is $139.52.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, beating the consensus estimate of $2.00 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, sell-side analysts predict that Allegion PLC will post 7.77 EPS for the current year.

Insider Activity 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 shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the transaction, the senior vice president owned 8,773 shares in the company, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president owned 30,023 shares in the company, valued at approximately $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 corporate insiders.

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.