Victory Capital Management Inc. Sells 15,522 Shares of Allegion PLC (NYSE:ALLE)

Key Points

• Victory Capital Management Inc. reduced its stake in Allegion PLC by 38.6%, selling 15,522 shares to end up with 24,728 shares valued at approximately $3.23 million.
• Allegion reported $2.04 EPS for its latest quarterly earnings, exceeding analysts' expectations of $2.00, with revenue rising 5.8% year-over-year to $1.02 billion.
• Multiple research analysts have raised their price targets on Allegion, with Goldman Sachs increasing it from $149.00 to $170.00 and Barclays upgrading it from $135.00 to $156.00, while the consensus rating remains at "Hold".

Victory Capital Management Inc. reduced its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 38.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,728 shares of the scientific and technical instruments company's stock after selling 15,522 shares during the period. Victory Capital Management Inc.'s holdings in Allegion were worth $3,226,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wayfinding Financial LLC bought a new stake in Allegion in the 1st quarter valued at $30,000. Colonial Trust Co SC lifted its holdings in shares of Allegion by 192.9% during the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock worth $33,000 after acquiring an additional 164 shares during the period. Garde Capital Inc. bought a new position in shares of Allegion during the 1st quarter worth about $36,000. GeoWealth Management LLC lifted its holdings in shares of Allegion by 259.3% during the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock worth $40,000 after acquiring an additional 223 shares during the period. Finally, Oakworth Capital Inc. bought a new position in shares of Allegion during the 1st quarter worth about $46,000. 92.21% of the stock is owned by institutional investors.

Allegion Stock Down 0.0%

Shares of NYSE ALLE traded down $0.08 during midday trading on Thursday, reaching $164.74. The company's stock had a trading volume of 205,148 shares, compared to its average volume of 988,240. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $166.22. The stock has a market capitalization of $14.14 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 3.96 and a beta of 1.01. The stock has a 50 day simple moving average of $145.80 and a 200-day simple moving average of $136.20.

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

Insider Activity at Allegion

In other news, 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ALLE has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. The Goldman Sachs Group increased their target price on shares of Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Robert W. Baird increased their target price on shares of Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Barclays increased their target price on shares of Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a research report on Friday, July 25th. Finally, Bank of America upgraded shares of Allegion from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $110.00 to $175.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Allegion presently has a consensus rating of "Hold" and a consensus price target of $165.88.

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.