Gulf International Bank UK Ltd Lowers Position in Allegion PLC $ALLE

Key Points

• Gulf International Bank UK Ltd decreased its stake in Allegion PLC by 29.4%, selling 2,018 shares and holding 4,854 shares valued at approximately $633,000 at the end of the first quarter.
• Several institutional investors, including Charles Schwab and Wealth Enhancement Advisory Services, increased their holdings in Allegion, indicating a growing interest in the company's stock.
• Allegion's latest earnings report showed a 5.8% year-over-year revenue increase and earnings per share of $2.04, surpassing analysts' expectations, while the stock currently has a consensus rating of "Hold."

Gulf International Bank UK Ltd reduced its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 29.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,854 shares of the scientific and technical instruments company's stock after selling 2,018 shares during the quarter. Gulf International Bank UK Ltd's holdings in Allegion were worth $633,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mariner LLC boosted its stake in Allegion by 8.5% in the fourth quarter. Mariner LLC now owns 16,809 shares of the scientific and technical instruments company's stock worth $2,197,000 after purchasing an additional 1,310 shares in the last quarter. XTX Topco Ltd acquired a new stake in Allegion in the fourth quarter worth $623,000. United Capital Financial Advisors LLC raised its stake in Allegion by 23.7% during the 4th quarter. United Capital Financial Advisors LLC now owns 2,023 shares of the scientific and technical instruments company's stock worth $264,000 after buying an additional 387 shares during the period. NewEdge Advisors LLC raised its position in shares of Allegion by 6.4% during the fourth quarter. NewEdge Advisors LLC now owns 2,418 shares of the scientific and technical instruments company's stock worth $316,000 after purchasing an additional 146 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Allegion during the 4th quarter worth approximately $7,835,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Price Performance

NYSE:ALLE traded down $0.63 during trading hours on Thursday, reaching $167.89. 188,066 shares of the company were exchanged, compared to its average volume of 978,370. The company has a market capitalization of $14.41 billion, a P/E ratio of 23.32, a P/E/G ratio of 3.65 and a beta of 1.05. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $170.51. The business has a 50 day moving average of $153.57 and a 200 day moving average of $139.71.

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

Insider Activity

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the transaction, the senior vice president 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 disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Allegion in a report on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price objective on the stock. Mizuho lifted their price target 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. Barclays upgraded shares of Allegion from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $156.00 to $163.00 in a research note on Thursday, August 14th. Wells Fargo & Company lifted their target price on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Finally, Morgan Stanley lifted their target price on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Allegion currently has a consensus rating of "Hold" and an average target price of $166.75.

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.