Martin Investment Management LLC Buys Shares of 2,186 Allegion PLC $ALLE

Key Points

• Martin Investment Management LLC acquired 2,186 shares of Allegion PLC valued at approximately $285,000 in Q1, according to the firm's recent SEC filing.
• Institutional investors own 92.21% of Allegion's stock, highlighting significant investor confidence in the company.
• Allegion reported $2.04 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $2.00, with revenue reaching $1.02 billion.

Martin Investment Management LLC acquired a new position in Allegion PLC (NYSE:ALLE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,186 shares of the scientific and technical instruments company's stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALLE. Charles Schwab Investment Management Inc. boosted its holdings in Allegion by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 740,233 shares of the scientific and technical instruments company's stock worth $96,571,000 after buying an additional 4,942 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Allegion by 324.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company's stock worth $5,606,000 after buying an additional 32,842 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in Allegion by 5.6% during the first quarter. Atria Wealth Solutions Inc. now owns 2,924 shares of the scientific and technical instruments company's stock worth $381,000 after buying an additional 154 shares in the last quarter. Merit Financial Group LLC boosted its holdings in Allegion by 284.1% during the first quarter. Merit Financial Group LLC now owns 8,285 shares of the scientific and technical instruments company's stock worth $1,081,000 after buying an additional 6,128 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Allegion by 6.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company's stock valued at $15,768,000 after acquiring an additional 7,645 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Allegion Trading Down 1.3%

Shares of NYSE ALLE traded down $2.2120 during trading on Monday, hitting $170.0280. 559,286 shares of the company were exchanged, compared to its average volume of 976,276. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $172.66. 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 has a fifty day moving average price of $154.89 and a 200-day moving average price of $140.44. The firm has a market capitalization of $14.60 billion, a PE ratio of 23.62, a P/E/G ratio of 3.71 and a beta of 1.05.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ALLE shares. Barclays upgraded shares of Allegion from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $156.00 to $163.00 in a research report on Thursday, August 14th. JPMorgan Chase & Co. started coverage on shares of Allegion in a research report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price objective for the company. Morgan Stanley upped their price objective on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Mizuho upped their price objective on shares of Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Robert W. Baird upped their price objective on shares of Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $166.75.

Insider Activity at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 8,773 shares of the company's stock, valued at $1,446,843.16. This represents a 30.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the completion of the sale, 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 position. 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.