Northern Trust Corp Purchases 161,473 Shares of Allegion PLC $ALLE

Key Points

• Northern Trust Corp increased its holdings in Allegion PLC by 16.6%, acquiring an additional 161,473 shares, bringing its total ownership to over 1.13 million shares valued at approximately $147.78 million.
• The stock of Allegion PLC currently has a market cap of $14.79 billion and a price-to-earnings (P/E) ratio of 23.93, reflecting strong market performance.
• Allegion recently reported a quarterly earnings per share (EPS) of $2.04, exceeding estimates, and has set guidance for FY 2025 EPS between $8.00 and $8.15.

Northern Trust Corp lifted its position in Allegion PLC (NYSE:ALLE - Free Report) by 16.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,132,749 shares of the scientific and technical instruments company's stock after purchasing an additional 161,473 shares during the period. Northern Trust Corp owned about 1.32% of Allegion worth $147,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC raised its holdings in Allegion by 6.4% during the fourth quarter. NewEdge Advisors LLC now owns 2,418 shares of the scientific and technical instruments company's stock valued at $316,000 after acquiring an additional 146 shares during the period. GeoWealth Management LLC raised its stake in Allegion by 259.3% during the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock valued at $40,000 after purchasing an additional 223 shares during the period. MetLife Investment Management LLC raised its stake in Allegion by 1.6% during the 4th quarter. MetLife Investment Management LLC now owns 23,013 shares of the scientific and technical instruments company's stock valued at $3,007,000 after purchasing an additional 356 shares during the period. MML Investors Services LLC lifted its holdings in Allegion by 3.8% in the 4th quarter. MML Investors Services LLC now owns 36,778 shares of the scientific and technical instruments company's stock worth $4,806,000 after purchasing an additional 1,361 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Allegion by 310.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,766 shares of the scientific and technical instruments company's stock worth $884,000 after purchasing an additional 5,119 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALLE has been the topic of several recent analyst reports. Bank of America upgraded shares of Allegion from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Wells Fargo & Company lifted their price target on shares of Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. JPMorgan Chase & Co. started coverage on shares of Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price objective for the company. Barclays raised Allegion from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $156.00 to $163.00 in a report on Thursday, August 14th. Finally, Morgan Stanley boosted their target price on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $166.75.

Allegion Price Performance

Shares of NYSE ALLE traded down $1.32 during mid-day trading on Thursday, hitting $170.69. 86,900 shares of the company's stock traded hands, compared to its average volume of 970,419. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $172.95. The company's 50-day moving average is $156.99 and its two-hundred day moving average is $141.16. The company has a market capitalization of $14.65 billion, a P/E ratio of 23.71, a PEG ratio of 3.69 and a beta of 1.05.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 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 during the quarter, compared to analyst estimates of $999.10 million. During the same quarter last year, the business posted $1.96 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, equities analysts anticipate that Allegion PLC will post 7.77 EPS for the current fiscal year.

Insider Activity at Allegion

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction 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 transaction, the senior vice president directly owned 30,023 shares of the company's stock, valued at $4,946,589.48. The trade was a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction of $634,777.08. Following the transaction, the senior vice president owned 8,773 shares in the company, valued at $1,446,843.16. This trade represents a 30.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company's stock.

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.