Raiffeisen Bank International AG Buys New Shares in Allegion PLC (NYSE:ALLE)

Key Points

• Raiffeisen Bank International AG purchased a new stake in Allegion PLC, acquiring 2,321 shares valued at approximately $298,000 during the first quarter of the year.
• Allegion reported earnings of $2.04 per share for the last quarter, exceeding analysts' expectations and showing a 5.8% increase in revenue compared to the same quarter last year.
• Several institutional investors have recently adjusted their holdings in Allegion, contributing to a significant institutional ownership of 92.21% of the company's stock.

Raiffeisen Bank International AG bought a new stake in Allegion PLC (NYSE:ALLE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,321 shares of the scientific and technical instruments company's stock, valued at approximately $298,000.

Several other hedge funds have also made changes to their positions in the stock. Avantax Advisory Services Inc. lifted its stake in Allegion by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company's stock worth $545,000 after purchasing an additional 73 shares during the period. Whittier Trust Co. lifted its stake in Allegion by 16.6% during the first 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 during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in Allegion by 2.4% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company's stock worth $469,000 after purchasing an additional 83 shares during the period. DMC Group LLC lifted its stake in Allegion by 2.2% during the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company's stock worth $516,000 after purchasing an additional 85 shares during the period. Finally, Rovin Capital UT ADV lifted its stake in Allegion by 2.3% during the first quarter. Rovin Capital UT ADV now owns 4,215 shares of the scientific and technical instruments company's stock worth $550,000 after purchasing an additional 96 shares during the period. Institutional investors own 92.21% of the company's stock.

Allegion Stock Performance

Shares of Allegion stock opened at $165.36 on Wednesday. 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 market cap of $14.20 billion, a P/E ratio of 22.97, a P/E/G ratio of 3.57 and a beta of 1.05. The firm has a 50 day simple moving average of $147.69 and a 200 day simple moving average of $137.20. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $167.24.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $2.00 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. Allegion's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 earnings per share. Sell-side analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of Allegion 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 completion of the sale, the senior vice president owned 8,773 shares of the company's stock, valued at approximately $1,446,843.16. The trade was a 30.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on ALLE shares. Barclays raised their price target on shares of Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a research note on Friday, July 25th. Bank of America upgraded shares of Allegion from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. Robert W. Baird raised 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. Morgan Stanley raised their price objective on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. initiated 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $165.88.

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.

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