Allegion PLC $ALLE Shares Acquired by Foyston Gordon & Payne Inc

Key Points

• Foyston Gordon & Payne Inc increased its stake in Allegion PLC by 17.0%, acquiring 10,894 additional shares in the first quarter, bringing their total to 74,934 shares.
• Institutional investors collectively hold 92.21% of Allegion's stock, indicating strong institutional interest, with several firms increasing their positions significantly.
• Following the latest earnings report, Allegion's stock price targets have been raised by multiple analysts, with a consensus rating of "Hold" and an average target price of $166.75.

Foyston Gordon & Payne Inc grew its position in Allegion PLC (NYSE:ALLE - Free Report) by 17.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,934 shares of the scientific and technical instruments company's stock after purchasing an additional 10,894 shares during the period. Allegion makes up approximately 2.4% of Foyston Gordon & Payne Inc's holdings, making the stock its 15th largest holding. Foyston Gordon & Payne Inc owned approximately 0.09% of Allegion worth $9,776,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Allegion by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 740,233 shares of the scientific and technical instruments company's stock valued at $96,571,000 after purchasing an additional 4,942 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Allegion by 324.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company's stock valued at $5,606,000 after purchasing an additional 32,842 shares in the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of Allegion by 5.6% in the 1st quarter. Atria Wealth Solutions Inc. now owns 2,924 shares of the scientific and technical instruments company's stock valued at $381,000 after purchasing an additional 154 shares in the last quarter. Merit Financial Group LLC lifted its stake in shares of 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 purchasing an additional 6,128 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of 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 purchasing an additional 7,645 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value 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 approximately $4,946,589.48. The trade was a 26.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tracy L. Kemp sold 3,849 shares of the business'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 completion of the sale, the senior vice president owned 8,773 shares of the company's stock, valued at $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Allegion Stock Up 2.9%

ALLE stock traded up $4.8960 during midday trading on Friday, hitting $172.1060. 321,867 shares of the company's stock were exchanged, compared to its average volume of 976,094. 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 firm has a 50 day moving average price of $154.14 and a 200-day moving average price of $139.98. The stock has a market capitalization of $14.77 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 3.63 and a beta of 1.05.

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

Wall Street Analyst Weigh In

ALLE has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. 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 on the stock. Morgan Stanley raised their target price on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. The Goldman Sachs Group raised 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. Finally, Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and raised their target price for the company from $110.00 to $175.00 in a report on Tuesday, July 29th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $166.75.

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.