The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Allegion plc shares valued at $304,130 were sold by Eckersley Timothy P on Mar 12 ’24. At $132.75 per share, Eckersley Timothy P sold 2,291 shares. The insider’s holdings dropped to 33,276 shares worth approximately $4.19 million following the completion of this transaction.
Also, Eckersley Timothy P sold 5,089 shares, netting a total of over 664,799 in proceeds. Following the sale of shares at $130.63 each, the insider now holds 0 shares.
Before that, Eckersley Timothy P had sold 5,047 shares from its account. In a trade valued at $656,060, the Sr. VP-Allegion International traded Allegion plc shares for $129.99 each. Upon closing the transaction, the insider’s holdings decreased to 5,047 shares, worth approximately $4.47 million.
As published in a research note from Mizuho on February 23, 2024, Allegion plc [ALLE] has been rated down from a Buy to a Neutral and the price target has been revised to $141 from $140. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in late February. As of December 04, 2023, Barclays has decreased its “an Overweight” rating to a “an Equal weight” for ALLE. Earlier on October 19, 2023, Vertical Research downgraded its rating. Their new recommendation was “a Hold” for ALLE stock which previously was a “a Buy”.
Analyzing ALLE Stock Performance
During the last five days, there has been a drop of approximately -2.59%. Over the course of the year, Allegion plc shares have dropped approximately -0.72%. Shares of the company reached a 52-week high of $136.91 on 02/20/24 and a 52-week low of $117.17 on 01/16/24. A 50-day SMA is recorded $130.76, while a 200-day SMA reached $116.61. Nevertheless, trading volume fell to 0.58 million shares from 0.52 million shares the previous day.
Support And Resistance Levels for Allegion plc (ALLE)
According to the 24-hour chart, there is a support level at 125.04, which, if violated, would cause prices to drop to 124.29. In the upper region, resistance lies at 127.09. The next price resistance is at 128.39. RSI (Relative Strength Index) is 35.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.03, which suggests the price will decrease in the coming days. Percent R is at 92.61%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
