Optas LLC Acquires Shares of 1,408 Allegion PLC $ALLE

Optas LLC acquired a new stake in Allegion PLC (NYSE:ALLE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,408 shares of the scientific and technical instruments company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Allegion during the 1st quarter worth $30,000. Sound Income Strategies LLC bought a new position in shares of Allegion during the 2nd quarter worth $32,000. Garde Capital Inc. bought a new position in shares of Allegion during the 1st quarter worth $36,000. Cary Street Partners Investment Advisory LLC grew its position in shares of 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 worth $39,000 after buying an additional 143 shares in the last quarter. Finally, National Pension Service grew its position in shares of Allegion by 75.0% during the 1st quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock worth $42,000 after buying an additional 138 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Down 1.3%

Shares of NYSE:ALLE opened at $173.20 on Friday. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $180.34. The stock has a market cap of $14.87 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 3.77 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. The business has a 50-day moving average price of $172.12 and a 200-day moving average price of $151.32.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) 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 analysts’ expectations of $999.10 million. During the same period last year, the business posted $1.96 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Equities analysts predict that Allegion PLC will post 7.77 EPS for the current year.

Allegion Announces Dividend

The company 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 1.2%. The ex-dividend date was Monday, September 15th. Allegion’s dividend payout ratio (DPR) is presently 28.33%.

Analyst Ratings Changes

ALLE has been the topic of a number of recent research reports. Bank of America raised 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 research report on Tuesday, July 29th. Zacks Research downgraded Allegion from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. Mizuho lifted their target price on Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Morgan Stanley boosted their target price on shares of Allegion from $139.00 to $151.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a report on Wednesday. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Allegion presently has a consensus rating of “Hold” and an average target price of $174.25.

Insider Activity

In other news, SVP Tracy L. Kemp sold 3,849 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the completion of the transaction, the senior vice president directly owned 8,773 shares in the company, valued at $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 transaction, the senior vice president owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.