Frank Rimerman Advisors LLC Takes $269,000 Position in Allegion PLC (NYSE:ALLE)

Key Points

• Frank Rimerman Advisors LLC has invested approximately $269,000 in Allegion PLC, acquiring 2,064 shares in the first quarter.
• Several investment firms have increased their price targets for Allegion, with Bank of America raising it from $110.00 to $175.00, reflecting a positive outlook on the stock.
• Allegion reported earnings of $2.04 per share for the last quarter, exceeding analyst estimates of $2.00, with revenue of $1.02 billion.

Frank Rimerman Advisors LLC acquired a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,064 shares of the scientific and technical instruments company's stock, valued at approximately $269,000.

Several other institutional investors have also modified their holdings of ALLE. Wayfinding Financial LLC acquired a new stake in Allegion during the 1st quarter worth $30,000. Colonial Trust Co SC raised its stake in Allegion by 192.9% during the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock worth $33,000 after acquiring an additional 164 shares in the last quarter. Garde Capital Inc. acquired a new stake in Allegion during the 1st quarter worth $36,000. Cary Street Partners Investment Advisory LLC raised its stake in Allegion by 91.7% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company's stock worth $39,000 after acquiring an additional 143 shares in the last quarter. Finally, GeoWealth Management LLC increased its stake in Allegion by 259.3% in 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 period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $1,781,055.60. Following the sale, the senior vice president owned 30,023 shares of the company's stock, valued at $4,946,589.48. This represents a 26.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction of $634,777.08. Following the completion of the sale, the senior vice president directly owned 8,773 shares in the company, valued at $1,446,843.16. This trade represents a 30.49% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley lifted their price objective 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. Robert W. Baird lifted their price objective on shares of Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Mizuho lifted their price objective 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 lifted their price objective 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, JPMorgan Chase & Co. began coverage on shares of Allegion in a report on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $166.75.

Allegion Price Performance

ALLE stock traded down $1.33 during trading on Friday, reaching $167.22. 549,874 shares of the company were exchanged, compared to its average volume of 1,107,214. The company has a market cap of $14.36 billion, a P/E ratio of 23.23, a PEG ratio of 3.61 and a beta of 1.05. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $170.11. The stock's 50 day moving average price is $151.80 and its 200 day moving average price is $138.97. 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 released its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $2.00 by $0.04. The firm had revenue of $1.02 billion for 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 revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.96 earnings per share. As a group, analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

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.