OMERS ADMINISTRATION Corp Purchases 3,358 Shares of Allegion PLC $ALLE

Key Points

• OMERS ADMINISTRATION Corp raised its stake in Allegion PLC by 32.1%, owning 13,819 shares valued at approximately $1.8 million as of the latest SEC filing.
• Several large investors, including Vanguard Group and Kayne Anderson Rudnick, have also increased their holdings in Allegion during the first quarter.
• Allegion reported earnings of $2.04 per share for its latest quarter, exceeding estimates, with a revenue of $1.02 billion, reflecting a year-over-year growth of 5.8%.

OMERS ADMINISTRATION Corp lifted its holdings in shares of Allegion PLC (NYSE:ALLE - Free Report) by 32.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,819 shares of the scientific and technical instruments company's stock after buying an additional 3,358 shares during the period. OMERS ADMINISTRATION Corp's holdings in Allegion were worth $1,803,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. The Manufacturers Life Insurance Company raised its holdings in Allegion by 1.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 64,631 shares of the scientific and technical instruments company's stock worth $8,446,000 after purchasing an additional 652 shares in the last quarter. Northern Trust Corp raised its holdings in Allegion by 22.4% during the fourth quarter. Northern Trust Corp now owns 971,276 shares of the scientific and technical instruments company's stock worth $126,926,000 after purchasing an additional 177,443 shares in the last quarter. Lido Advisors LLC raised its holdings in Allegion by 8.6% during the fourth quarter. Lido Advisors LLC now owns 2,512 shares of the scientific and technical instruments company's stock worth $328,000 after purchasing an additional 198 shares in the last quarter. AQR Capital Management LLC raised its holdings in Allegion by 179.6% during the fourth quarter. AQR Capital Management LLC now owns 233,103 shares of the scientific and technical instruments company's stock worth $30,462,000 after purchasing an additional 149,744 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in Allegion by 70.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 20,110 shares of the scientific and technical instruments company's stock worth $2,628,000 after purchasing an additional 8,321 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Stock Performance

ALLE stock traded up $2.67 during mid-day trading on Thursday, reaching $170.36. 231,567 shares of the stock traded hands, compared to its average volume of 967,462. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $172.95. The business has a 50-day moving average of $159.85 and a two-hundred day moving average of $142.44. The firm has a market capitalization of $14.62 billion, a PE ratio of 23.63, a P/E/G ratio of 3.65 and a beta of 1.07.

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 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%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, equities analysts predict that Allegion PLC will post 7.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Zacks Research cut Allegion from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $110.00 to $175.00 in a report on Tuesday, July 29th. JPMorgan Chase & Co. began coverage on Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price on the stock. The Goldman Sachs Group upped their price target on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company upped their price target on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $166.75.

Insider Transactions at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction dated Friday, July 25th. The shares were 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction dated Thursday, August 7th. The stock was 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. This trade represents a 26.47% decrease in their position. 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.