Invesco Ltd. Cuts Holdings in Allegion PLC (NYSE:ALLE)

Invesco Ltd. cut its stake in Allegion PLC (NYSE:ALLE - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,522,784 shares of the scientific and technical instruments company's stock after selling 238,674 shares during the quarter. Invesco Ltd. owned 1.77% of Allegion worth $198,662,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in shares of Allegion in the first quarter worth approximately $30,000. Colonial Trust Co SC increased its position in Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock worth $33,000 after buying an additional 164 shares during the last quarter. Garde Capital Inc. purchased a new stake in Allegion in the first quarter worth $36,000. Cary Street Partners Investment Advisory LLC increased its position in Allegion by 91.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company's stock worth $39,000 after buying an additional 143 shares during the last quarter. Finally, GeoWealth Management LLC increased its position 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 worth $40,000 after buying an additional 223 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Stock Down 0.8%

Shares of ALLE stock traded down $1.33 during midday trading on Friday, reaching $167.22. 549,874 shares of the stock were exchanged, compared to its average volume of 1,107,214. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $170.11. The company's 50 day moving average is $151.80 and its two-hundred day moving average is $139.02. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. The firm has a market cap of $14.36 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05.

Allegion (NYSE:ALLE - Get Free Report) last posted its 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 firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 EPS. On average, equities research analysts predict that Allegion PLC will post 7.77 EPS for the current year.

Insider Activity at Allegion

In related news, SVP Timothy P. Eckersley sold 10,810 shares of the company's 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 sale, the senior vice president owned 30,023 shares in the company, valued at $4,946,589.48. This represents a 26.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.23% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on ALLE. Wells Fargo & Company raised their target price on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. The Goldman Sachs Group upped their price objective on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Robert W. Baird boosted their target price on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Finally, Mizuho boosted their target price on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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.