New Age Alpha Advisors LLC Cuts Position in Allegion PLC (NYSE:ALLE)

Key Points

• New Age Alpha Advisors LLC reduced its ownership in Allegion PLC by 23.2% during the first quarter, now holding 6,315 shares valued at $824,000.
• Other institutional investors, including ING Groep NV, increased their stakes in Allegion, with ING growing its holding by 35.1% to 15,000 shares worth $1,957,000.
• Allegion reported earnings of $2.04 EPS for the last quarter, surpassing analyst estimates and reflecting a 5.8% year-over-year revenue increase to $1.02 billion.

New Age Alpha Advisors LLC lessened its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 23.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,315 shares of the scientific and technical instruments company's stock after selling 1,908 shares during the period. New Age Alpha Advisors LLC's holdings in Allegion were worth $824,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ING Groep NV increased its stake in Allegion by 35.1% during the 1st quarter. ING Groep NV now owns 15,000 shares of the scientific and technical instruments company's stock worth $1,957,000 after buying an additional 3,897 shares in the last quarter. Earned Wealth Advisors LLC purchased a new stake in Allegion during the 1st quarter worth approximately $217,000. Raiffeisen Bank International AG purchased a new stake in Allegion during the 1st quarter worth approximately $298,000. Blair William & Co. IL increased its stake in Allegion by 5.3% during the 1st quarter. Blair William & Co. IL now owns 2,077 shares of the scientific and technical instruments company's stock worth $271,000 after buying an additional 104 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Allegion by 2.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 22,897 shares of the scientific and technical instruments company's stock worth $2,987,000 after buying an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Insider Buying and Selling

In related news, SVP Tracy L. Kemp sold 3,849 shares of the company'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 value of $634,777.08. Following the transaction, the senior vice president directly owned 8,773 shares in the company, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ALLE shares. The Goldman Sachs Group boosted their price objective on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. Barclays boosted their price objective on Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a research note on Friday, July 25th. Robert W. Baird upped their price target on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Morgan Stanley upped their price target on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Allegion presently has a consensus rating of "Hold" and a consensus target price of $165.88.

Allegion Trading Up 0.0%

ALLE opened at $163.77 on Friday. Allegion PLC has a one year low of $116.57 and a one year high of $167.24. The stock has a market capitalization of $14.06 billion, a PE ratio of 22.75, a P/E/G ratio of 3.51 and a beta of 1.05. The business's 50 day moving average price is $148.95 and its 200 day moving average price is $137.79. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, beating analysts' consensus estimates 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 prior year, the firm posted $1.96 earnings per share. The firm's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that Allegion PLC will post 7.77 EPS 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.

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