Diligent Investors LLC Purchases Shares of 1,463 Allegion PLC $ALLE

Diligent Investors LLC acquired a new stake in Allegion PLC (NYSE:ALLE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,463 shares of the scientific and technical instruments company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sound Income Strategies LLC acquired a new stake in shares of Allegion in the second quarter valued at about $32,000. Wayfinding Financial LLC acquired a new stake in shares of Allegion in the first quarter valued at about $30,000. Garde Capital Inc. acquired a new stake in Allegion during the 1st quarter valued at approximately $36,000. Cary Street Partners Investment Advisory LLC increased its position in Allegion by 91.7% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company’s stock valued at $39,000 after purchasing an additional 143 shares during the period. Finally, National Pension Service increased its position in Allegion by 75.0% during the 1st quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock valued at $42,000 after purchasing an additional 138 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Stock Down 0.3%

Shares of NYSE:ALLE opened at $177.29 on Friday. The stock has a market cap of $15.22 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 3.81 and a beta of 1.07. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. 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 $170.96 and its 200 day moving average is $149.83.

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

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $0.51 per share. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 1.2%. Allegion’s payout ratio is 28.33%.

Insider Activity

In related news, SVP Timothy P. Eckersley sold 10,810 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the transaction, the senior vice president directly owned 30,023 shares in the company, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the business’s 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 transaction, the senior vice president 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 disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Allegion in a research report on Tuesday, June 24th. They set an “overweight” rating and a $170.00 price objective for the company. Morgan Stanley increased their price target on Allegion from $139.00 to $151.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Wells Fargo & Company increased their price target on Allegion from $150.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, July 25th. Bank of America upgraded Allegion from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $110.00 to $175.00 in a report on Tuesday, July 29th. Finally, Robert W. Baird raised their target price on Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $173.00.

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.