Allegion (NYSE:ALLE) Hits New 1-Year High Following Analyst Upgrade

Allegion PLC (NYSE:ALLE) shares reached a new 52-week high on Tuesday after Robert W. Baird raised their price target on the stock from $175.00 to $190.00. Robert W. Baird currently has a neutral rating on the stock. Allegion traded as high as $180.36 and last traded at $180.51, with a volume of 140715 shares traded. The stock had previously closed at $177.97.

ALLE has been the topic of several other research reports. Mizuho raised their price target on shares of Allegion from $145.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research report on Wednesday, October 8th. JPMorgan Chase & Co. started coverage on shares of Allegion in a research report on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 price objective on the stock. Bank of America upgraded shares of Allegion from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. Finally, Barclays raised their price target on shares of Allegion from $163.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Allegion has a consensus rating of “Hold” and an average target price of $176.13.

Insider Activity

In related news, SVP Tracy L. Kemp sold 3,849 shares of the company’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 transaction of $634,777.08. Following the sale, the senior vice president directly owned 8,773 shares in the company, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allegion

Several large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Allegion by 199.2% during the first quarter. GAMMA Investing LLC now owns 1,508 shares of the scientific and technical instruments company’s stock worth $197,000 after purchasing an additional 1,004 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Allegion by 324.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company’s stock valued at $5,606,000 after buying an additional 32,842 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Allegion by 15.0% during the first quarter. Exchange Traded Concepts LLC now owns 760 shares of the scientific and technical instruments company’s stock valued at $99,000 after acquiring an additional 99 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Allegion by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 10,183 shares of the scientific and technical instruments company’s stock valued at $1,328,000 after acquiring an additional 270 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Allegion by 61.9% during the first quarter. Blue Trust Inc. now owns 539 shares of the scientific and technical instruments company’s stock valued at $70,000 after acquiring an additional 206 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Trading Up 0.9%

The business has a 50 day simple moving average of $173.81 and a 200-day simple moving average of $153.81. 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 stock has a market capitalization of $15.41 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 3.84 and a beta of 1.07.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.04. The business 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%.The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, equities analysts predict that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

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

About Allegion

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.