Timothy P. Eckersley Sells 10,810 Shares of Allegion PLC (NYSE:ALLE) Stock

Key Points

• Timothy P. Eckersley, Senior Vice President of Allegion PLC, sold 10,810 shares of the company's stock for a total of $1,781,055.60, resulting in a 26.47% decrease in his ownership.
• Allegion's stock price increased by 0.5% during trading, reaching $164.47, with a market capitalization of $14.12 billion.
• Allegion reported an earnings per share (EPS) of $2.04, exceeding analysts' expectations and marking a 5.8% revenue increase year-over-year.

Allegion PLC (NYSE:ALLE - Get Free Report) SVP Timothy P. Eckersley sold 10,810 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were 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 owned 30,023 shares of the company's stock, valued at $4,946,589.48. This represents a 26.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Allegion Stock Up 0.5%

Shares of ALLE traded up $0.75 during midday trading on Monday, hitting $164.47. 774,779 shares of the company's stock traded hands, compared to its average volume of 990,653. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 3.51 and a beta of 1.05. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. The firm's fifty day moving average is $148.95 and its 200-day moving average is $137.86. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $167.24.

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

Institutional Trading of Allegion

Several institutional investors have recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in shares of Allegion in the second quarter valued at about $32,000. Wayfinding Financial LLC purchased a new position in Allegion in the first quarter valued at about $30,000. Spire Wealth Management increased its holdings in Allegion by 78.0% in the second quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company's stock valued at $34,000 after buying an additional 103 shares in the last quarter. Colonial Trust Co SC grew its position in shares of Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock valued at $33,000 after purchasing an additional 164 shares during the last quarter. Finally, Garde Capital Inc. acquired a new stake in shares of Allegion in the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ALLE. Wells Fargo & Company lifted their target price on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Robert W. Baird upped 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. 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 on the stock. Bank of America raised shares of Allegion from an "underperform" rating to a "neutral" rating and increased their target price for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Finally, Barclays lifted their target price on Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, 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.

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