Stoneridge Investment Partners LLC Has $1.22 Million Stake in Allegion PLC $ALLE

Key Points

• Stoneridge Investment Partners LLC reduced its holdings in Allegion PLC by 46.4% in Q1, now owning 9,375 shares valued at $1,223,000.
• Allegion reported $1.02 billion in revenue for the last quarter, exceeding analysts' expectations, with earnings per share of $2.04.
• Analysts have recently boosted their price targets for Allegion, with Wells Fargo & Company raising it to $175.00 while maintaining an "equal weight" rating.

Stoneridge Investment Partners LLC decreased its position in Allegion PLC (NYSE:ALLE - Free Report) by 46.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,375 shares of the scientific and technical instruments company's stock after selling 8,102 shares during the period. Stoneridge Investment Partners LLC's holdings in Allegion were worth $1,223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in shares of Allegion in the 1st quarter valued at approximately $30,000. Colonial Trust Co SC lifted its position in shares of Allegion by 192.9% in the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock valued at $33,000 after acquiring an additional 164 shares in the last quarter. Garde Capital Inc. purchased a new stake in shares of Allegion in the 1st quarter valued at approximately $36,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Allegion by 91.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company's stock valued at $39,000 after acquiring an additional 143 shares in the last quarter. Finally, GeoWealth Management LLC lifted its position in shares of Allegion by 259.3% in the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock valued at $40,000 after acquiring an additional 223 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays upgraded shares of Allegion from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $156.00 to $163.00 in a research report on Thursday, August 14th. 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 target on the stock. Wells Fargo & Company raised their price target on shares of Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Mizuho raised their price target on shares of Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Robert W. Baird raised their price target on shares of Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $166.75.

Allegion Stock Performance

NYSE ALLE traded up $5.0850 during midday trading on Friday, hitting $172.2950. The company had a trading volume of 754,439 shares, compared to its average volume of 926,991. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 23.93, a P/E/G ratio of 3.60 and a beta of 1.05. The firm has a fifty day simple moving average of $154.89 and a two-hundred day simple moving average of $140.28. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $172.67.

Allegion (NYSE:ALLE - Get Free Report) last posted 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. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. During the same quarter last year, the company earned $1.96 EPS. Allegion's revenue was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Equities analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the sale, the senior vice president directly owned 30,023 shares of the company's stock, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Tracy L. Kemp sold 3,849 shares of the 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 directly owned 8,773 shares in the company, valued at $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is currently 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.