Fifth Third Bancorp Buys 324 Shares of Allegion PLC $ALLE

Fifth Third Bancorp raised its stake in Allegion PLC (NYSE:ALLE) by 15.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,380 shares of the scientific and technical instruments company’s stock after acquiring an additional 324 shares during the period. Fifth Third Bancorp’s holdings in Allegion were worth $343,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Avantax Advisory Services Inc. grew its position in Allegion by 1.8% in the first quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company’s stock valued at $545,000 after acquiring an additional 73 shares during the period. Whittier Trust Co. grew its holdings in shares of Allegion by 16.6% during the first quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company’s stock worth $75,000 after purchasing an additional 82 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Allegion by 2.4% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company’s stock worth $469,000 after purchasing an additional 83 shares during the last quarter. DMC Group LLC grew its holdings in shares of Allegion by 2.2% during the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company’s stock worth $516,000 after purchasing an additional 85 shares during the last quarter. Finally, Ethic Inc. grew its holdings in shares of Allegion by 1.2% during the first quarter. Ethic Inc. now owns 7,514 shares of the scientific and technical instruments company’s stock worth $984,000 after purchasing an additional 87 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Allegion Trading Up 1.4%

NYSE ALLE opened at $177.47 on Wednesday. The firm has a market cap of $15.24 billion, a P/E ratio of 24.65, a P/E/G ratio of 3.76 and a beta of 1.07. 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 stock’s 50-day moving average is $170.00 and its 200-day moving average is $148.81. Allegion PLC has a one year low of $116.57 and a one year high of $180.34.

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

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.1%. Allegion’s dividend payout ratio (DPR) is currently 28.33%.

Analysts Set New Price Targets

Several analysts have recently commented on ALLE shares. Barclays upgraded Allegion from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $156.00 to $163.00 in a report on Thursday, August 14th. Mizuho increased their target price on Allegion from $145.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. The Goldman Sachs Group increased their target price on Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Zacks Research cut Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Finally, Morgan Stanley increased their target price on Allegion from $139.00 to $151.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $170.25.

Insider Transactions at Allegion

In related news, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $164.92, for a total transaction of $634,777.08. Following the completion of the transaction, the senior vice president directly owned 8,773 shares in the company, valued at approximately $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the transaction, the senior vice president owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

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.