Pacer Advisors Inc. Has $655,000 Stake in Allegion PLC (NYSE:ALLE)

Key Points

• Pacer Advisors Inc. has reduced its stake in Allegion PLC by 35.1%, selling 2,714 shares in the first quarter, leaving them with 5,023 shares valued at $655,000 as of their latest SEC filing.
• Insider transactions include the Senior VP, Tracy L. Kemp, selling 3,849 shares, which represents a 30.49% decrease in their position, with shares valued at approximately $634,777.
• Recent earnings showed Allegion reporting $2.04 EPS, exceeding expectations, with a revenue of $1.02 billion, marking a year-over-year increase of 5.8% for the quarter.

Pacer Advisors Inc. decreased its holdings in shares of Allegion PLC (NYSE:ALLE - Free Report) by 35.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,023 shares of the scientific and technical instruments company's stock after selling 2,714 shares during the quarter. Pacer Advisors Inc.'s holdings in Allegion were worth $655,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Avantax Advisory Services Inc. increased its holdings in Allegion by 1.8% in the first quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company's stock valued at $545,000 after buying an additional 73 shares during the last quarter. Whittier Trust Co. boosted its position in shares of Allegion by 16.6% during the 1st quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company's stock worth $75,000 after purchasing an additional 82 shares in the last quarter. Waterloo Capital L.P. boosted its position in shares of Allegion by 1.2% during the 4th quarter. Waterloo Capital L.P. now owns 7,180 shares of the scientific and technical instruments company's stock worth $938,000 after purchasing an additional 83 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Allegion by 2.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company's stock valued at $469,000 after buying an additional 83 shares in the last quarter. Finally, DMC Group LLC lifted its position in shares of Allegion by 2.2% in the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company's stock valued at $516,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Price Performance

Shares of ALLE traded down $0.92 during trading hours on Friday, hitting $165.00. 1,366,374 shares of the company were exchanged, compared to its average volume of 1,055,568. The company has a market capitalization of $14.17 billion, a PE ratio of 22.92, a PEG ratio of 3.54 and a beta of 1.05. 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 firm has a fifty day simple moving average of $146.76 and a 200-day simple moving average of $136.74. Allegion PLC has a one year low of $116.57 and a one year high of $166.37.

Allegion (NYSE:ALLE - Get Free Report) last issued 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 business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%. Allegion's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.96 earnings per share. As a group, sell-side analysts predict that Allegion PLC will post 7.77 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Barclays increased their price objective on shares of Allegion from $135.00 to $156.00 and gave the company an "underweight" rating in a research note on Friday, July 25th. Mizuho boosted their target price on shares of Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Robert W. Baird increased their price objective on shares of Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group increased their price objective on shares of Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $165.88.

Insider Activity

In other news, SVP Tracy L. Kemp sold 3,849 shares of the firm'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 approximately $1,446,843.16. This trade represents a 30.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.23% of the company's stock.

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.