Raymond James Financial Inc. Has $76.86 Million Stock Holdings in Allegion PLC $ALLE

Key Points

• Raymond James Financial Inc. increased its ownership in Allegion PLC by 18.1%, acquiring 90,435 shares to hold a total of 589,174 shares valued at approximately $76.86 million.
• Analysts have recently raised their price targets for Allegion, with Goldman Sachs increasing it from $149 to $170, and Bank of America upgrading its rating from "underperform" to "neutral" with a new target of $175.
• Allegion reported quarterly earnings per share of $2.04, surpassing estimates, along with a revenue of $1.02 billion, indicating a 5.8% year-over-year growth.

Raymond James Financial Inc. grew its stake in Allegion PLC (NYSE:ALLE - Free Report) by 18.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 589,174 shares of the scientific and technical instruments company's stock after buying an additional 90,435 shares during the period. Raymond James Financial Inc. owned approximately 0.68% of Allegion worth $76,864,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALLE. Lord Abbett & CO. LLC lifted its position in shares of Allegion by 24.8% in the fourth quarter. Lord Abbett & CO. LLC now owns 2,089,239 shares of the scientific and technical instruments company's stock worth $273,022,000 after buying an additional 414,595 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Allegion in the first quarter worth about $40,240,000. Squarepoint Ops LLC lifted its position in shares of Allegion by 11,506.8% in the fourth quarter. Squarepoint Ops LLC now owns 272,295 shares of the scientific and technical instruments company's stock worth $35,584,000 after buying an additional 269,949 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Allegion by 19.2% in the fourth quarter. Deutsche Bank AG now owns 1,641,810 shares of the scientific and technical instruments company's stock worth $214,552,000 after buying an additional 264,379 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Allegion by 13.2% in the first quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock worth $279,379,000 after buying an additional 249,295 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Robert W. Baird boosted their price objective on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Wells Fargo & Company boosted their price objective on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Barclays raised Allegion from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $156.00 to $163.00 in a research report on Thursday, August 14th. Morgan Stanley boosted their price objective on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Finally, Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $166.75.

Allegion Price Performance

Shares of ALLE stock traded up $5.0850 during trading hours on Friday, hitting $172.2950. The company had a trading volume of 754,439 shares, compared to its average volume of 926,991. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $172.67. The firm has a market capitalization of $14.79 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 3.60 and a beta of 1.05. The firm's fifty day moving average is $154.89 and its 200 day moving average is $140.28. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, beating 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 analyst estimates of $999.10 million. During the same period in the prior year, the company posted $1.96 EPS. The company's revenue 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, sell-side analysts predict that Allegion PLC will post 7.77 EPS for the current fiscal year.

Insider Activity at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the transaction, the senior vice president directly owned 8,773 shares of the company's stock, valued at $1,446,843.16. The trade was a 30.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $4,946,589.48. The trade was a 26.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

About Allegion

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.