Townsquare Capital LLC Raises Stake in Allegion PLC (NYSE:ALLE)

Key Points

• Townsquare Capital LLC increased its stake in Allegion PLC by 8.7%, holding 28,153 shares worth approximately $3.67 million after buying an additional 2,258 shares in Q1.
• Allegion recently reported Q2 earnings with an EPS of $2.04, beating estimates by $0.04, and achieving revenue of $1.02 billion, a 5.8% increase year-over-year.
• Several analysts have raised their price targets for Allegion, with the consensus rating at "Hold" and an average target price of $165.88.

Townsquare Capital LLC grew its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 8.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,153 shares of the scientific and technical instruments company's stock after purchasing an additional 2,258 shares during the period. Townsquare Capital LLC's holdings in Allegion were worth $3,673,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. National Bank of Canada FI boosted its position in shares of Allegion by 4.8% during the 1st quarter. National Bank of Canada FI now owns 68,087 shares of the scientific and technical instruments company's stock worth $8,883,000 after purchasing an additional 3,135 shares in the last quarter. Citigroup Inc. boosted its position in shares of Allegion by 41.7% during the 1st quarter. Citigroup Inc. now owns 109,247 shares of the scientific and technical instruments company's stock worth $14,252,000 after purchasing an additional 32,165 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Allegion during the 1st quarter worth $288,000. Charles Schwab Investment Management Inc. boosted its position in shares of Allegion by 0.7% during the 1st 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 in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new stake in shares of Allegion during the 1st quarter worth $499,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Up 0.0%

ALLE opened at $163.77 on Monday. 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 stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 3.51 and a beta of 1.05. The business has a 50-day moving average of $148.95 and a two-hundred day moving average of $137.86. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $167.24.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS 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 during the quarter, compared to analysts' expectations of $999.10 million. During the same quarter in the previous year, the business earned $1.96 EPS. The firm's revenue was up 5.8% on a year-over-year basis. On average, research analysts expect that Allegion PLC will post 7.77 earnings per share for the current year.

Insider Activity

In other news, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction dated Friday, July 25th. The stock was 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 in the company, valued at approximately $1,446,843.16. The trade was a 30.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ALLE shares. Morgan Stanley lifted their price target on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Robert W. Baird lifted their price target on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. started coverage on Allegion in a research note on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target for the company. Wells Fargo & Company lifted their price target on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group lifted their price target on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Allegion has a consensus rating of "Hold" and an average price target of $165.88.

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.

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