308,449 Shares in Allegion PLC $ALLE Bought by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Allegion PLC, purchasing 308,449 shares valued at approximately $40.24 million, representing about 0.36% of the company's total ownership.
• Insider transactions were noted, with SVP Timothy P. Eckersley selling 10,810 shares for approximately $1.78 million, marking a 26.47% decrease in his ownership stake.
• Wells Fargo and Robert W. Baird have upgraded Allegion's target price to $175, reflecting positive analyst sentiment as the stock currently trades around $167.22.

Nuveen LLC bought a new position in Allegion PLC (NYSE:ALLE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 308,449 shares of the scientific and technical instruments company's stock, valued at approximately $40,240,000. Nuveen LLC owned approximately 0.36% of Allegion at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Allegion by 0.5% during the first quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company's stock valued at $1,404,672,000 after purchasing an additional 48,615 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Allegion by 1.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company's stock valued at $509,313,000 after purchasing an additional 38,377 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Allegion by 6.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,147,110 shares of the scientific and technical instruments company's stock valued at $280,112,000 after purchasing an additional 136,638 shares in the last quarter. Brown Advisory Inc. grew its position in Allegion by 13.2% during the first quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock valued at $279,379,000 after purchasing an additional 249,295 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Allegion by 24.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,089,239 shares of the scientific and technical instruments company's stock valued at $273,022,000 after purchasing an additional 414,595 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Stock Down 0.8%

ALLE stock traded down $1.3150 during trading hours on Thursday, hitting $167.2050. The company's stock had a trading volume of 481,337 shares, compared to its average volume of 997,607. 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 company has a market capitalization of $14.35 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 3.63 and a beta of 1.05. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $170.51. The stock has a 50 day moving average price of $154.14 and a two-hundred day moving average price of $139.98.

Allegion (NYSE:ALLE - Get Free Report) last posted its 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. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, equities research analysts expect that Allegion PLC will post 7.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALLE. Mizuho boosted their price objective 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. The Goldman Sachs Group boosted their price objective on shares of Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Bank of America raised shares of Allegion from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Wells Fargo & Company boosted their target price on shares of Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Finally, Morgan Stanley boosted their target price on shares of 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $166.75.

Insider Buying and Selling at Allegion

In related news, SVP Timothy P. Eckersley sold 10,810 shares of the company's 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 sale, the senior vice president directly owned 30,023 shares of the company's stock, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction 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 sale, the senior vice president directly 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 disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Allegion 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.