Citigroup Inc. Grows Position in Allegion PLC (NYSE:ALLE)

Citigroup Inc. lifted its holdings in shares of Allegion PLC (NYSE:ALLE) by 41.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,247 shares of the scientific and technical instruments company’s stock after acquiring an additional 32,165 shares during the quarter. Citigroup Inc. owned about 0.13% of Allegion worth $14,252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of ALLE. Wayfinding Financial LLC bought a new stake in Allegion in the first quarter valued at about $30,000. Colonial Trust Co SC raised its holdings in shares of Allegion by 192.9% during the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 164 shares during the period. Garde Capital Inc. bought a new position in shares of Allegion in the 1st quarter worth about $36,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Allegion by 91.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company’s stock valued at $39,000 after buying an additional 143 shares during the period. Finally, GeoWealth Management LLC grew its position 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 valued at $40,000 after buying an additional 223 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of Allegion stock opened at $168.58 on Friday. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $170.11. The firm has a market cap of $14.47 billion, a P/E ratio of 23.41, a P/E/G ratio of 3.64 and a beta of 1.05. 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 firm has a 50 day simple moving average of $151.24 and a 200 day simple moving average of $138.73.

Allegion (NYSE:ALLE) last issued 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 for the quarter, compared to analysts’ expectations of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.96 earnings per share. Sell-side analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of the 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 sale, the senior vice president owned 8,773 shares of the company’s stock, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the completion of the sale, the senior vice president owned 30,023 shares of the company’s stock, valued at $4,946,589.48. This trade represents a 26.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALLE. The Goldman Sachs Group upped their price objective on Allegion from $149.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. began coverage on shares of Allegion in a research report on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 price target on the stock. Bank of America raised Allegion from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. Wells Fargo & Company boosted their target price on Allegion from $150.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Finally, Mizuho increased their price target on Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $166.75.

Allegion 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.