Allegion plc (ALLE) rating upgrades by Vertical Research


In a filing, Allegion plc revealed its SVP – Chief HR Officer Hawes Jennifer L unloaded Company’s shares for reported $88126.0 on Jul 31. In the deal valued at $117.50 per share,750 shares were sold. As a result of this transaction, Hawes Jennifer L now holds 4,488 shares worth roughly $ 0.5 million.

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Then, Stone John H bought 17,500 shares, generating $2,040,892 in total proceeds. Upon buying the shares at $116.62, the President and CEO now owns 94,248 shares.

Before that, Braun Jeffrey N sold 2,278 shares. Allegion plc shares valued at $251,347 were divested by the SVP and GC at a price of $110.34 per share. As a result of the transaction, Braun Jeffrey N now holds 11,336 shares, worth roughly $1.26 million.

Vertical Research upgraded its Allegion plc [ALLE] rating to a Buy from a a Hold in a research note published on Monday. PT values the company’s stock at a premium of 13.43 to its Monday closing price.

Price Performance Review of ALLE

On Monday, Allegion plc [NYSE:ALLE] saw its stock jump 0.88% to $110.81. On the same session, the stock had its day’s lowest price of $110.21, but rose to a high of $111.61. Over the last five days, the stock has gained 3.14%. Allegion plc shares have risen nearly 5.27% since the year began. Nevertheless, the stocks have risen 7.25% over the past one year. While a 52-week high of $128.36 was reached on 07/25/23, a 52-week low of $87.33 was recorded on 04/05/23. SMA at 50 days reached $116.22, while 200 days put it at $111.51. A total of 0.58 million shares were traded, compared to the trading of 0.77 million shares in the previous session.

Levels Of Support And Resistance For ALLE Stock

The 24-hour chart illustrates a support level at 110.14, which if violated will result in even more drops to 109.48. On the upside, there is a resistance level at 111.54. A further resistance level may holdings at 112.28. The Relative Strength Index (RSI) on the 14-day chart is 46.65, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.31, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 28.48%. Stochastics %K at 57.00% indicates the stock is a holding.

How much short interest is there in Allegion plc?

A steep rise in short interest was recorded in Allegion plc stocks on Aug 14, 2023, dropping by -1.17 million shares to a total of 1.93 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.1 million shares. There was a decline of -60.62%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.50% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.1.

Allegion plc [ALLE] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 10,248,930 shares, or roughly 11.68% of the outstanding ALLE shares. In other words, the investor’s shares have fallen by -18,045 from its previous 13-F filing of 10266975.0. Additionally, APG Asset Management NV increased 0.52% of its stake after which the total value it holdings stand at $635,281,928, while BlackRock Fund Advisors reduced -5.80% of its stake to hold $601.11 million in the firm. Over the last quarter, Boston Partners Global Investors, purchased 757,599 shares of Allegion plc, while SSgA Funds Management, Inc. bought 176,973 shares. At present, Kayne Anderson Rudnick Investment is holding 3,098,961 shares valued at $362.14 million. Pictet Asset Management SA owned 2,686,990 shares of the company at the time of its most recent 13F filing, worth $314.0 million.

According to FactSet, Allegion plc’s share price will average $126.08 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.53 percent from its previous closing price of $109.84. Analysts expect Allegion plc stock to reach the higher price of $145.00, while the lowest price estimate is $95.00. However, 15 analysts have rated ALLE stock as an Overweight in their predictions for 2023.


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