IFP Advisors Inc Boosts Position in Allegion PLC $ALLE

IFP Advisors Inc boosted its position in shares of Allegion PLC (NYSE:ALLE) by 51.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 890 shares of the scientific and technical instruments company’s stock after acquiring an additional 304 shares during the quarter. IFP Advisors Inc’s holdings in Allegion were worth $128,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Allegion by 0.5% during the first quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company’s stock valued at $1,404,672,000 after purchasing an additional 48,615 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Allegion by 22.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company’s stock valued at $623,104,000 after purchasing an additional 878,796 shares during the period. Boston Partners grew its holdings in Allegion by 0.8% during the first quarter. Boston Partners now owns 4,752,391 shares of the scientific and technical instruments company’s stock valued at $619,700,000 after purchasing an additional 35,635 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Allegion by 6.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,147,110 shares of the scientific and technical instruments company’s stock valued at $280,112,000 after purchasing an additional 136,638 shares during the period. Finally, Brown Advisory Inc. grew its holdings in Allegion by 13.2% during the first quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company’s stock valued at $279,379,000 after purchasing an additional 249,295 shares during the period. Institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on Allegion in a report on Tuesday, June 24th. They set an “overweight” rating and a $170.00 price target for the company. Zacks Research lowered Allegion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Bank of America raised Allegion from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. Wells Fargo & Company upped their price objective on Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Finally, The Goldman Sachs Group upped their price objective on Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $174.25.

Insider Activity at Allegion

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president directly owned 30,023 shares of the company’s stock, valued at $4,946,589.48. This trade represents a 26.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were 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 directly owned 8,773 shares of the company’s stock, valued at $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 owned by company insiders.

Allegion Price Performance

NYSE:ALLE opened at $177.57 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $15.24 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.81 and a beta of 1.07. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $180.34. The business’s 50-day moving average is $173.28 and its 200 day moving average is $153.07.

Allegion (NYSE:ALLE) last posted its 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 the consensus estimate of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, equities research analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

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

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.