Allegion PLC (NYSE:ALLE) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC reduced its stake in Allegion PLC by 10.6%, now holding approximately $9.77 million worth of shares following the sale of 8,880 shares.
• Significant institutional investor activity was noted, with Renaissance Technologies LLC increasing its stake by 438.6% to a total of 267,700 shares worth about $34.98 million.
• Allegion's most recent earnings report showed an EPS of $2.04, beating analyst expectations of $2.00, with revenue increasing 5.8% year-over-year.

Natixis Advisors LLC cut its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 10.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,887 shares of the scientific and technical instruments company's stock after selling 8,880 shares during the quarter. Natixis Advisors LLC owned approximately 0.09% of Allegion worth $9,770,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ALLE. Wayfinding Financial LLC purchased a new position in Allegion during the 1st quarter valued at about $30,000. Colonial Trust Co SC grew its holdings 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 valued at $33,000 after purchasing an additional 164 shares during the last quarter. Garde Capital Inc. purchased a new position in Allegion during the first quarter worth about $36,000. GeoWealth Management LLC increased its stake in Allegion by 259.3% during the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock worth $40,000 after acquiring an additional 223 shares during the last quarter. Finally, Oakworth Capital Inc. acquired a new stake in Allegion during the 1st quarter valued at approximately $46,000. 92.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Robert W. Baird lifted 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. Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. Mizuho upped their target price on shares of Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Wells Fargo & Company increased their target price on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group raised their target price on shares of Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $165.88.

Allegion Trading Up 0.1%

Allegion stock traded up $0.12 during trading hours on Friday, reaching $163.86. The stock had a trading volume of 226,806 shares, compared to its average volume of 992,687. The stock has a market cap of $14.07 billion, a PE ratio of 22.76, a PEG ratio of 3.53 and a beta of 1.05. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $167.24. 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 company has a fifty day simple moving average of $148.53 and a 200-day simple moving average of $137.59.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. Allegion's revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $1.96 EPS. Analysts forecast that Allegion PLC will post 7.77 EPS for the current fiscal year.

Insider Buying and Selling at Allegion

In other news, 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 of the company's stock, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by insiders.

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.