Fuller & Thaler Asset Management Inc. Buys 17,481 Shares of Allegion PLC $ALLE

Key Points

• Fuller & Thaler Asset Management Inc. boosted its stake in Allegion PLC by 102.3% in Q1, acquiring 17,481 shares for a total of 34,574 shares valued at $4.51 million.
• Wall Street analysts show optimism for Allegion, with price targets raised by several firms, notably from $139 to $151 by Morgan Stanley and to $175 by both Bank of America and Wells Fargo.
• Allegion reported a quarterly earnings beat with $2.04 EPS, surpassing estimates, and projected FY 2025 EPS guidance set between 8.000-8.150.

Fuller & Thaler Asset Management Inc. grew its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 102.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,574 shares of the scientific and technical instruments company's stock after purchasing an additional 17,481 shares during the quarter. Fuller & Thaler Asset Management Inc.'s holdings in Allegion were worth $4,511,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in Allegion during the 1st quarter valued at about $30,000. Colonial Trust Co SC boosted its holdings 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 valued at $33,000 after acquiring an additional 164 shares during the period. Garde Capital Inc. purchased a new stake in Allegion during the 1st quarter valued at about $36,000. Cary Street Partners Investment Advisory LLC boosted its holdings 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 valued at $39,000 after acquiring an additional 143 shares during the period. Finally, GeoWealth Management LLC boosted its holdings in Allegion by 259.3% during the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock valued at $40,000 after acquiring an additional 223 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Tracy L. Kemp sold 3,849 shares of the firm'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 transaction, the senior vice president owned 8,773 shares in the company, valued at $1,446,843.16. This trade represents a 30.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the firm'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 value of $1,781,055.60. Following the completion of the transaction, the senior vice president owned 30,023 shares of the company's stock, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.23% of the company's stock.

Allegion Stock Up 3.0%

Shares of ALLE traded up $5.0850 on Friday, reaching $172.2950. The stock had a trading volume of 754,439 shares, compared to its average volume of 926,991. The firm has a market capitalization of $14.79 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 3.71 and a beta of 1.05. 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 50-day simple moving average of $154.89 and a 200-day simple moving average of $140.36. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $172.67.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALLE shares. Morgan Stanley increased 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. Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $110.00 to $175.00 in a report on Tuesday, July 29th. Wells Fargo & Company increased their price objective on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Barclays upgraded Allegion from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $156.00 to $163.00 in a report on Thursday, August 14th. Finally, Mizuho increased their price objective on Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $166.75.

About Allegion

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.