Cerity Partners LLC Makes New $808,000 Investment in Allegion plc (NYSE:ALLE)

Posted by Defense World Staff on Sep 4th, 2023

Cerity Partners LLC bought a new stake in Allegion plc (NYSE:ALLE – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,652 shares of the scientific and technical instruments company’s stock, valued at approximately $808,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALLE. Norges Bank purchased a new position in shares of Allegion in the 4th quarter valued at approximately $76,640,000. Mackenzie Financial Corp purchased a new position in shares of Allegion in the 1st quarter valued at approximately $43,179,000. Select Equity Group L.P. lifted its stake in shares of Allegion by 126.3% in the 4th quarter. Select Equity Group L.P. now owns 462,787 shares of the scientific and technical instruments company’s stock valued at $48,713,000 after purchasing an additional 258,301 shares during the period. Mawer Investment Management Ltd. increased its position in Allegion by 60.2% during the 1st quarter. Mawer Investment Management Ltd. now owns 619,505 shares of the scientific and technical instruments company’s stock valued at $66,120,000 after buying an additional 232,911 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in Allegion by 21.9% during the 1st quarter. Brown Advisory Inc. now owns 1,288,874 shares of the scientific and technical instruments company’s stock valued at $137,561,000 after buying an additional 231,449 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Activity at Allegion

In related news, SVP Jennifer L. Hawes sold 750 shares of Allegion stock in a transaction on Monday, July 31st. The stock was sold at an average price of $117.50, for a total transaction of $88,125.00. Following the transaction, the senior vice president now directly owns 4,488 shares in the company, valued at $527,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Jennifer L. Hawes sold 750 shares of Allegion stock in a transaction on Monday, July 31st. The stock was sold at an average price of $117.50, for a total transaction of $88,125.00. Following the transaction, the senior vice president now directly owns 4,488 shares in the company, valued at $527,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John H. Stone bought 17,500 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were bought at an average price of $116.62 per share, for a total transaction of $2,040,850.00. Following the completion of the transaction, the chief executive officer now directly owns 94,248 shares of the company’s stock, valued at approximately $10,991,201.76. The disclosure for this purchase can be found here. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALLE. StockNews.com began coverage on Allegion in a research report on Thursday, August 17th. They set a “hold” rating for the company. Robert W. Baird raised their price objective on Allegion from $126.00 to $132.00 in a research report on Thursday, July 27th. Finally, Barclays raised their price objective on Allegion from $120.00 to $130.00 in a research report on Monday, July 10th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Allegion has a consensus rating of “Moderate Buy” and an average price target of $123.50.

Read Our Latest Analysis on ALLE

Allegion Stock Performance

Shares of ALLE opened at $114.75 on Monday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.93 and a quick ratio of 1.20. Allegion plc has a one year low of $87.33 and a one year high of $128.36. The firm has a market capitalization of $10.07 billion, a P/E ratio of 19.65, a PEG ratio of 3.02 and a beta of 1.11. The business has a fifty day moving average of $115.93 and a 200 day moving average of $111.29.

Allegion (NYSE:ALLE – Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The scientific and technical instruments company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.72 by $0.04. Allegion had a return on equity of 59.20% and a net margin of 14.27%. The company had revenue of $912.50 million during the quarter, compared to analyst estimates of $936.25 million. During the same quarter in the previous year, the company posted $1.37 earnings per share. Allegion’s revenue was up 18.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Allegion plc will post 6.77 EPS for the current year.

Allegion Profile

(Free Report)

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.