American Century Companies Inc. Grows Stock Position in Allegion PLC $ALLE

American Century Companies Inc. increased its holdings in Allegion PLC (NYSE:ALLE) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,390 shares of the scientific and technical instruments company’s stock after buying an additional 1,089 shares during the period. American Century Companies Inc. owned about 0.08% of Allegion worth $8,792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Nuveen LLC acquired a new position in Allegion in the 1st quarter valued at about $40,240,000. Squarepoint Ops LLC raised its stake in Allegion by 11,506.8% in the 4th quarter. Squarepoint Ops LLC now owns 272,295 shares of the scientific and technical instruments company’s stock valued at $35,584,000 after purchasing an additional 269,949 shares during the last quarter. Deutsche Bank AG raised its stake in Allegion by 19.2% in the 4th quarter. Deutsche Bank AG now owns 1,641,810 shares of the scientific and technical instruments company’s stock valued at $214,552,000 after purchasing an additional 264,379 shares during the last quarter. Brown Advisory Inc. raised its stake in Allegion by 13.2% in the 1st quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company’s stock valued at $279,379,000 after purchasing an additional 249,295 shares during the last quarter. Finally, Cooke & Bieler LP acquired a new position in Allegion in the 1st quarter valued at about $32,519,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ALLE. JPMorgan Chase & Co. began coverage on shares of Allegion in a research note on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Allegion from $149.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Barclays raised shares of Allegion from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $156.00 to $163.00 in a research note on Thursday, August 14th. Robert W. Baird boosted their target price on shares of Allegion from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, Bank of America raised shares of Allegion from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $166.75.

Insider Buying and Selling

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the company’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 owned 8,773 shares in the company, valued at $1,446,843.16. This represents a 30.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Allegion Trading Up 1.2%

NYSE ALLE opened at $171.85 on Wednesday. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $172.66. The company has a 50-day moving average of $156.28 and a 200-day moving average of $140.94. 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 company has a market cap of $14.75 billion, a P/E ratio of 23.87, a P/E/G ratio of 3.65 and a beta of 1.05.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. The firm had revenue of $1.02 billion during 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 company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, equities analysts predict that Allegion PLC will post 7.77 earnings per share for the current year.

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.