Allegion PLC $ALLE Shares Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in Allegion PLC by 2.2%, owning 244,967 shares worth approximately $31.96 million after purchasing an additional 5,232 shares.
• Allegion's shares are currently trading at $167.22, reflecting a 0.8% decrease in value, with a market capitalization of $14.36 billion.
• Recently, Wells Fargo raised its price target for Allegion from $150 to $175, while the stock has an average analyst rating of "Hold" and a consensus target price of $166.75.

HighTower Advisors LLC lifted its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 244,967 shares of the scientific and technical instruments company's stock after buying an additional 5,232 shares during the period. HighTower Advisors LLC owned approximately 0.28% of Allegion worth $31,958,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its stake in Allegion by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company's stock worth $545,000 after buying an additional 73 shares during the period. Whittier Trust Co. lifted its holdings in shares of Allegion by 16.6% during the 1st quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company's stock valued at $75,000 after acquiring an additional 82 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in Allegion by 2.4% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company's stock worth $469,000 after purchasing an additional 83 shares during the period. DMC Group LLC increased its holdings in Allegion by 2.2% in the 1st quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company's stock valued at $516,000 after purchasing an additional 85 shares in the last quarter. Finally, Rovin Capital UT ADV raised its position in Allegion by 2.3% in the first quarter. Rovin Capital UT ADV now owns 4,215 shares of the scientific and technical instruments company's stock valued at $550,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Allegion Stock Performance

Shares of ALLE traded up $2.41 during midday trading on Tuesday, hitting $169.61. 208,247 shares of the stock traded hands, compared to its average volume of 981,187. The business's 50 day moving average price is $152.35 and its two-hundred day moving average price is $139.30. The firm has a market capitalization of $14.56 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 3.58 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. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $170.29.

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 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Equities research analysts predict that Allegion PLC will post 7.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on ALLE. Robert W. Baird increased their price objective on shares of Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. The Goldman Sachs Group raised their price target on shares of Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. began coverage on shares of Allegion in a research note on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of 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 stock an "equal weight" rating in a research report on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $166.75.

Insider Activity at Allegion

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the firm'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 directly owned 30,023 shares of the company's stock, valued at approximately $4,946,589.48. This trade 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 stock was 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 of the company's stock, valued at $1,446,843.16. The trade was a 30.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company's stock.

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.