Versor Investments LP Boosts Stock Holdings in Allegion PLC $ALLE

Key Points

• Versor Investments LP increased its stake in Allegion PLC by 227.6% during the first quarter, owning a total of 15,691 shares valued at approximately $2,047,000.
• Allegion's stock received several upgrades from analysts, with target prices raised by firms like Goldman Sachs to $170.00 and Mizuho to $155.00, reflecting a generally positive outlook.
• In recent insider trading, SVP Timothy P. Eckersley sold 10,810 shares for about $1.78 million, marking a significant 26.47% decrease in his ownership of Allegion stock.

Versor Investments LP boosted its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 227.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,691 shares of the scientific and technical instruments company's stock after acquiring an additional 10,902 shares during the period. Versor Investments LP's holdings in Allegion were worth $2,047,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Foyston Gordon & Payne Inc increased its stake in Allegion by 17.0% during the 1st quarter. Foyston Gordon & Payne Inc now owns 74,934 shares of the scientific and technical instruments company's stock worth $9,776,000 after acquiring an additional 10,894 shares during the period. Raymond James Financial Inc. increased its stake in shares of Allegion by 18.1% in the 1st quarter. Raymond James Financial Inc. now owns 589,174 shares of the scientific and technical instruments company's stock valued at $76,864,000 after purchasing an additional 90,435 shares during the last quarter. Cresset Asset Management LLC bought a new position in shares of Allegion in the 1st quarter valued at $425,000. Tocqueville Asset Management L.P. increased its stake in shares of Allegion by 16.8% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,441 shares of the scientific and technical instruments company's stock valued at $710,000 after purchasing an additional 784 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Allegion by 1.6% in the 1st quarter. American Century Companies Inc. now owns 67,390 shares of the scientific and technical instruments company's stock valued at $8,792,000 after purchasing an additional 1,089 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Allegion Price Performance

Shares of NYSE ALLE traded up $4.92 during mid-day trading on Friday, hitting $172.13. 321,867 shares of the stock traded hands, compared to its average volume of 976,094. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $172.67. The company has a market cap of $14.78 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 3.63 and a beta of 1.05. The firm has a 50 day simple moving average of $154.14 and a two-hundred day simple moving average of $139.98.

Allegion (NYSE:ALLE - Get Free Report) last announced 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. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, equities research analysts forecast that Allegion PLC will post 7.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ALLE. Barclays upgraded Allegion from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $156.00 to $163.00 in a research note on Thursday, August 14th. Wells Fargo & Company lifted their price target on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. began coverage on Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price target on the stock. The Goldman Sachs Group lifted their price target on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley lifted their price target on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Allegion presently has an average rating of "Hold" and a consensus target price of $166.75.

Insider Transactions at Allegion

In related 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 sale, the senior vice president directly owned 30,023 shares of the company's stock, valued at $4,946,589.48. The trade was a 26.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

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.