Allegion PLC $ALLE Stake Increased by Ieq Capital LLC

Key Points

• Ieq Capital LLC significantly increased its stake in Allegion PLC by 251.6% in the first quarter, acquiring an additional 59,307 shares to hold a total of 82,878 shares worth approximately $10.81 million.
• Allegion's recent earnings report indicated an EPS of $2.04, surpassing estimates, and revenues of $1.02 billion, representing a 5.8% year-over-year increase.
• Major financial institutions have adjusted their price targets for Allegion, with Wells Fargo raising theirs to $175 and multiple analysts issuing "Hold" ratings, reflecting mixed sentiments on the stock.

Ieq Capital LLC increased its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 251.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,878 shares of the scientific and technical instruments company's stock after buying an additional 59,307 shares during the quarter. Ieq Capital LLC owned about 0.10% of Allegion worth $10,812,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its stake in Allegion by 6.4% during the 4th 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 in the last quarter. Voya Investment Management LLC boosted its position in shares of Allegion by 20.8% in the 4th quarter. Voya Investment Management LLC now owns 34,511 shares of the scientific and technical instruments company's stock valued at $4,510,000 after purchasing an additional 5,938 shares during the period. Tudor Investment Corp ET AL boosted its position in shares of Allegion by 57.3% in the 4th quarter. Tudor Investment Corp ET AL now owns 66,101 shares of the scientific and technical instruments company's stock valued at $8,638,000 after purchasing an additional 24,068 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Allegion by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 64,631 shares of the scientific and technical instruments company's stock valued at $8,446,000 after purchasing an additional 652 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Allegion by 22.4% in the 4th quarter. Northern Trust Corp now owns 971,276 shares of the scientific and technical instruments company's stock valued at $126,926,000 after purchasing an additional 177,443 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Stock Performance

Shares of Allegion stock traded down $2.18 on Tuesday, reaching $167.62. 161,304 shares of the company were exchanged, compared to its average volume of 969,955. 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's 50-day moving average is $158.86 and its two-hundred day moving average is $142.09. The firm has a market cap of $14.39 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 3.65 and a beta of 1.07. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $172.95.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results 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 return on equity of 42.62% and a net margin of 16.15%.The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, research analysts expect that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ALLE. The Goldman Sachs Group increased their price objective on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Barclays raised Allegion from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $156.00 to $163.00 in a research report on Thursday, August 14th. Finally, Morgan Stanley boosted their price target 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 equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $166.75.

Insider Buying and Selling

In related news, SVP Timothy P. Eckersley sold 10,810 shares of the 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 transaction, the senior vice president directly owned 30,023 shares of the company's stock, valued at $4,946,589.48. This represents a 26.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of the 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 directly 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. Corporate insiders own 0.23% of the company's stock.

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.