State of New Jersey Common Pension Fund D Sells 1,919 Shares of Allegion PLC $ALLE

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Allegion PLC (NYSE:ALLE) by 6.7% in the first quarter, Holdings Channel.com reports. The fund owned 26,760 shares of the scientific and technical instruments company’s stock after selling 1,919 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Allegion were worth $3,491,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in Allegion in the first quarter worth about $30,000. Colonial Trust Co SC boosted its holdings in 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 valued at $33,000 after purchasing an additional 164 shares in the last quarter. Garde Capital Inc. bought a new stake in shares of Allegion in the 1st quarter valued at approximately $36,000. Cary Street Partners Investment Advisory LLC raised 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 worth $39,000 after buying an additional 143 shares in the last quarter. Finally, GeoWealth Management LLC raised its holdings in shares of Allegion by 259.3% in the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 223 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following 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 legal filing with the SEC, which is available through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction dated 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. The trade was a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Allegion Stock Down 0.9%

Shares of NYSE:ALLE opened at $168.3810 on Thursday. 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 firm has a market cap of $14.46 billion, a P/E ratio of 23.39, a P/E/G ratio of 3.65 and a beta of 1.05. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $170.51. The company’s 50-day moving average price is $153.57 and its two-hundred day moving average price is $139.71.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. During the same period in the previous year, the firm posted $1.96 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, research analysts forecast that Allegion PLC will post 7.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALLE has been the topic of a number of analyst reports. Morgan Stanley upped their price target on Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Mizuho boosted their target price on shares of Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Wells Fargo & Company upped their target price on shares of Allegion from $150.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, July 25th. Robert W. Baird increased their target price on shares of Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Finally, Barclays upgraded shares of Allegion from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $156.00 to $163.00 in a research report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Allegion has a consensus rating of “Hold” and a consensus price target of $166.75.

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.