Creative Planning Raises Stock Holdings in Allegion PLC $ALLE

Creative Planning raised its holdings in shares of Allegion PLC (NYSE:ALLE) by 14.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,556 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,984 shares during the quarter. Creative Planning’s holdings in Allegion were worth $2,242,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Huntington National Bank grew its position in shares of Allegion by 7.7% during the second quarter. Huntington National Bank now owns 853 shares of the scientific and technical instruments company’s stock worth $123,000 after buying an additional 61 shares in the last quarter. Aurora Investment Counsel grew its holdings in Allegion by 0.6% during the 2nd quarter. Aurora Investment Counsel now owns 12,466 shares of the scientific and technical instruments company’s stock worth $1,797,000 after acquiring an additional 71 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in Allegion by 1.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company’s stock worth $545,000 after acquiring an additional 73 shares in the last quarter. Mission Wealth Management LP increased its position in shares of Allegion by 1.4% in the 2nd quarter. Mission Wealth Management LP now owns 6,123 shares of the scientific and technical instruments company’s stock worth $883,000 after purchasing an additional 85 shares during the last quarter. Finally, Ethic Inc. raised its stake in shares of Allegion by 1.2% in the 1st quarter. Ethic Inc. now owns 7,514 shares of the scientific and technical instruments company’s stock valued at $984,000 after purchasing an additional 87 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America upgraded 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 report on Tuesday, July 29th. Wells Fargo & Company lifted their price objective on shares of Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. The Goldman Sachs Group increased their target price on shares of Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Barclays raised their price target on shares of Allegion from $185.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Allegion currently has a consensus rating of “Hold” and a consensus price target of $176.38.

Allegion Trading Up 2.3%

Allegion stock opened at $166.10 on Wednesday. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $180.68. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $14.29 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 3.17 and a beta of 1.07. The firm has a 50-day moving average price of $171.16 and a two-hundred day moving average price of $160.23.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.21 by $0.09. Allegion had a return on equity of 40.83% and a net margin of 16.09%.The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm earned $2.16 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. Sell-side analysts expect that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 1.2%. Allegion’s dividend payout ratio is presently 27.60%.

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.