LGT Group Foundation Sells 2,404 Shares of Allegion PLC (NYSE:ALLE)

Key Points

• LGT Group Foundation reduced its stake in Allegion PLC by 8.9%, selling 2,404 shares and bringing their total holdings to 24,705 shares, valued at approximately $3.23 million.
• Several analysts have upgraded Allegion's stock, with target prices ranging from $155.00 to $175.00, and the stock currently has a consensus rating of "Hold".
• Allegion recently reported a 5.8% increase in year-over-year revenue, reaching $1.02 billion with earnings per share of $2.04, above analyst expectations of $2.00.

LGT Group Foundation reduced its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,705 shares of the scientific and technical instruments company's stock after selling 2,404 shares during the quarter. LGT Group Foundation's holdings in Allegion were worth $3,223,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Avantax Advisory Services Inc. boosted its holdings in Allegion by 1.8% in 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 acquiring an additional 73 shares in the last quarter. Whittier Trust Co. boosted its holdings in Allegion by 16.6% in the first quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company's stock worth $75,000 after acquiring an additional 82 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Allegion by 2.4% in the first 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 acquiring an additional 83 shares in the last quarter. DMC Group LLC boosted its holdings in Allegion by 2.2% in the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company's stock worth $516,000 after acquiring an additional 85 shares in the last quarter. Finally, Rovin Capital UT ADV boosted its holdings 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 worth $550,000 after acquiring an additional 96 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Insider Transactions at Allegion

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the company's stock in a transaction dated 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 owned 30,023 shares of the company's stock, valued at $4,946,589.48. This represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 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 approximately $1,446,843.16. This trade represents a 30.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

ALLE has been the topic of several analyst reports. The Goldman Sachs Group boosted their target price on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price target on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. began coverage on Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price target for the company. Barclays upgraded Allegion from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $156.00 to $163.00 in a research note on Thursday. Finally, Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $166.75.

Allegion Stock Performance

Allegion stock traded down $1.33 during mid-day trading on Friday, reaching $167.22. 549,874 shares of the stock traded hands, compared to its average volume of 989,066. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. The business's 50-day moving average is $151.80 and its 200-day moving average is $138.97. The stock has a market capitalization of $14.36 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 3.64 and a beta of 1.05. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $170.11.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $2.00 by $0.04. The business 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 business's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.96 earnings per share. As a group, sell-side analysts predict that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion 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.