Allegion PLC $ALLE Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC reduced its holdings in shares of Allegion PLC (NYSE:ALLE) by 13.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 10,370 shares of the scientific and technical instruments company’s stock after selling 1,663 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Allegion were worth $1,495,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. raised its holdings in Allegion by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company’s stock worth $545,000 after purchasing an additional 73 shares in the last quarter. Whittier Trust Co. grew its position in shares of Allegion by 16.6% in the 1st quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company’s stock valued at $75,000 after buying an additional 82 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in shares of Allegion by 2.4% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company’s stock valued at $469,000 after buying an additional 83 shares during the last quarter. DMC Group LLC grew its position in shares of Allegion by 2.2% in the 1st quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company’s stock valued at $516,000 after buying an additional 85 shares during the last quarter. Finally, Ethic Inc. boosted its stake in Allegion by 1.2% in the first quarter. Ethic Inc. now owns 7,514 shares of the scientific and technical instruments company’s stock valued at $984,000 after acquiring an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 1.2%

Shares of ALLE stock opened at $178.76 on Friday. The business’s 50 day moving average is $165.75 and its two-hundred day moving average is $145.94. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $179.92. The company has a market capitalization of $15.35 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 3.80 and a beta of 1.07. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14.

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

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 1.1%. Allegion’s dividend payout ratio is presently 28.33%.

Analysts Set New Price Targets

Several research firms have issued reports on ALLE. Barclays upgraded shares of Allegion from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $156.00 to $163.00 in a research note on Thursday, August 14th. The Goldman Sachs Group lifted their price target on Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research report on Tuesday. Bank of America raised Allegion from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. Morgan Stanley lifted their price target on Allegion from $139.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Finally, Robert W. Baird raised their target price on shares of Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $170.25.

Insider Transactions at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the sale, the senior vice president owned 8,773 shares of the company’s stock, valued at approximately $1,446,843.16. The trade was a 30.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion 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 sale, the senior vice president directly owned 30,023 shares in the company, valued at $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. 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.