National Bank of Canada FI Buys 3,135 Shares of Allegion PLC (NYSE:ALLE)

Key Points

• National Bank of Canada FI increased its stake in Allegion PLC by 4.8% during Q1, now holding 68,087 shares valued at approximately $8.88 million.
• Several hedge funds significantly boosted their positions in Allegion during the 4th quarter, with Squarepoint Ops LLC showing an extraordinary increase of 11,506.8%.
• Allegion's most recent quarterly earnings reported an EPS of $2.04, exceeding estimates and showcasing a 5.8% revenue growth year-over-year.

National Bank of Canada FI boosted its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 4.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,087 shares of the scientific and technical instruments company's stock after buying an additional 3,135 shares during the period. National Bank of Canada FI owned approximately 0.08% of Allegion worth $8,883,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in Allegion during the 1st quarter valued at $30,000. Colonial Trust Co SC boosted its stake in shares of Allegion by 192.9% in the 4th 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 position in shares of Allegion in the 1st quarter worth $36,000. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Allegion by 91.7% in the 1st 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 boosted its stake in shares of Allegion by 259.3% in the 4th 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. Institutional investors own 92.21% of the company's stock.

Insider Activity

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $164.92, for a total transaction of $634,777.08. Following the completion of the transaction, the senior vice president owned 8,773 shares in the company, valued at $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy P. Eckersley sold 10,810 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were 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 of the company's stock, valued at $4,946,589.48. This trade represents a 26.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ALLE shares. Wells Fargo & Company raised 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. Barclays upgraded Allegion from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $156.00 to $163.00 in a research note on Thursday. Mizuho raised their price target on Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. started coverage on Allegion in a report on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price on the stock. Finally, Morgan Stanley raised their target price on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $166.75.

Allegion Price Performance

NYSE:ALLE traded down $1.33 on Friday, reaching $167.22. 549,874 shares of the company's stock traded hands, compared to its average volume of 1,107,214. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. The stock has a 50-day simple moving average of $151.80 and a 200-day simple moving average of $139.02. The firm has a market cap of $14.36 billion, a PE ratio of 23.23, a P/E/G ratio of 3.58 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 earnings results 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 firm 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 earnings per share. The business's revenue was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Allegion PLC will post 7.77 earnings per share for the current year.

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.