Cresset Asset Management LLC Acquires New Holdings in Allegion PLC $ALLE

Cresset Asset Management LLC acquired a new stake in shares of Allegion PLC (NYSE:ALLE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,256 shares of the scientific and technical instruments company’s stock, valued at approximately $425,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. boosted its position in Allegion by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company’s stock valued at $545,000 after purchasing an additional 73 shares in the last quarter. Whittier Trust Co. boosted its position in Allegion by 16.6% during the first quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company’s stock valued at $75,000 after purchasing an additional 82 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Allegion by 2.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company’s stock valued at $469,000 after buying an additional 83 shares during the last quarter. DMC Group LLC raised its stake in Allegion by 2.2% in the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company’s stock valued at $516,000 after buying an additional 85 shares during the last quarter. Finally, Ethic Inc. raised its stake in Allegion by 1.2% in the first quarter. Ethic Inc. now owns 7,514 shares of the scientific and technical instruments company’s stock valued at $984,000 after buying an additional 87 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Insider Activity

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the completion of the transaction, the senior vice president directly 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. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the subject of a number of research analyst reports. Barclays upgraded Allegion from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $156.00 to $163.00 in a research note on Thursday, August 14th. The Goldman Sachs Group increased 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. Mizuho increased their price target on Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. initiated coverage on Allegion in a research note on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 price target for the company. Finally, Morgan Stanley increased 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 issued a Hold rating to the stock. According to MarketBeat.com, Allegion currently has an average rating of “Hold” and an average target price of $166.75.

Allegion Trading Up 3.0%

Shares of NYSE:ALLE opened at $172.2950 on Monday. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $172.67. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 3.71 and a beta of 1.05. 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 business has a 50-day moving average price of $154.89 and a 200-day moving average price of $140.44.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (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 firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $999.10 million. During the same period last year, the business posted $1.96 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Equities analysts predict that Allegion PLC will post 7.77 EPS for the current year.

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.