Rafferty Asset Management LLC Sells 1,627 Shares of Allegion PLC $ALLE

Key Points

• Rafferty Asset Management LLC reduced its stake in Allegion PLC by 20%, selling 1,627 shares and now holding 6,490 shares valued at approximately $847,000.
• Several major institutional investors, including Vanguard Group Inc. and Kayne Anderson Rudnick Investment Management LLC, increased their positions in Allegion during the 1st quarter, reflecting strong interest in the company.
• Allegion's stock price target has been raised by multiple analysts, with Goldman Sachs setting a target of $170.00 and Barclays upgrading the company to an "equal weight" rating.

Rafferty Asset Management LLC lessened its position in Allegion PLC (NYSE:ALLE - Free Report) by 20.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,490 shares of the scientific and technical instruments company's stock after selling 1,627 shares during the period. Rafferty Asset Management LLC's holdings in Allegion were worth $847,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ALLE. Charles Schwab Investment Management Inc. boosted its position in shares of Allegion by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 740,233 shares of the scientific and technical instruments company's stock worth $96,571,000 after purchasing an additional 4,942 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Allegion by 324.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company's stock valued at $5,606,000 after acquiring an additional 32,842 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of Allegion by 5.6% in the first quarter. Atria Wealth Solutions Inc. now owns 2,924 shares of the scientific and technical instruments company's stock valued at $381,000 after acquiring an additional 154 shares during the period. Merit Financial Group LLC increased its stake in Allegion by 284.1% in the 1st quarter. Merit Financial Group LLC now owns 8,285 shares of the scientific and technical instruments company's stock worth $1,081,000 after buying an additional 6,128 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in Allegion by 6.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company's stock worth $15,768,000 after buying an additional 7,645 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Mizuho lifted their target price on shares of Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Bank of America raised shares of Allegion from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $110.00 to $175.00 in a report on Tuesday, July 29th. Robert W. Baird boosted their price target on shares of Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Morgan Stanley lifted their target price on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company lifted their target price on shares of Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $166.75.

Allegion Trading Down 0.2%

NYSE:ALLE traded down $0.39 during mid-day trading on Wednesday, reaching $167.60. The company's stock had a trading volume of 635,942 shares, compared to its average volume of 758,638. The stock has a market cap of $14.39 billion, a P/E ratio of 23.28, a P/E/G ratio of 3.65 and a beta of 1.07. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $172.95. 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 company's fifty day simple moving average is $159.85 and its two-hundred day simple moving average is $142.44.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (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 for the quarter, compared to the consensus estimate of $999.10 million. During the same period in the previous year, the business earned $1.96 EPS. Allegion's revenue for the quarter was up 5.8% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, equities analysts predict that Allegion PLC will post 7.77 EPS for the current year.

Insider Activity at Allegion

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value 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 approximately $4,946,589.48. The trade was a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the completion of the sale, the senior vice president owned 8,773 shares in the company, valued at $1,446,843.16. This 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.