Martingale Asset Management L P Raises Stock Position in Allegion PLC $ALLE

Key Points

• Martingale Asset Management increased its holdings in Allegion PLC by 66.0%, now owning 6,646 shares worth approximately $867,000.
• Several analysts have upgraded their ratings on Allegion, with target prices rising; Barclays increased its target to $163.00 and Goldman Sachs to $170.00.
• Allegion reported a quarterly earnings per share (EPS) of $2.04, beating expectations and showing a year-over-year revenue increase of 5.8%.

Martingale Asset Management L P boosted its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 66.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 6,646 shares of the scientific and technical instruments company's stock after acquiring an additional 2,642 shares during the quarter. Martingale Asset Management L P's holdings in Allegion were worth $867,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 4,942 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Allegion by 324.3% during the 1st 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 during the last quarter. Atria Wealth Solutions Inc. lifted its stake in Allegion by 5.6% during the 1st quarter. Atria Wealth Solutions Inc. now owns 2,924 shares of the scientific and technical instruments company's stock valued at $381,000 after acquiring an additional 154 shares during the period. Merit Financial Group LLC lifted its stake in Allegion by 284.1% during the 1st quarter. Merit Financial Group LLC now owns 8,285 shares of the scientific and technical instruments company's stock valued at $1,081,000 after acquiring an additional 6,128 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of 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 last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Insider Activity

In related news, 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 sale, the senior vice president 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion 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 transaction, the senior vice president owned 30,023 shares in the company, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ALLE. Morgan Stanley raised their target price on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. The Goldman Sachs Group boosted their price objective on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. assumed coverage on Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price on the stock. Mizuho lifted their price target on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company boosted their price target on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $166.75.

Allegion Price Performance

ALLE traded down $1.63 during midday trading on Friday, hitting $169.35. 363,837 shares of the company traded hands, compared to its average volume of 971,366. The business has a 50 day simple moving average of $157.68 and a two-hundred day simple moving average of $141.44. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $172.95. The company has a market capitalization of $14.54 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 3.70 and a beta of 1.05. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14.

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

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.