Allegion (NYSE:ALLE) Sets New 1-Year High - Here's Why

Key Points

• Allegion PLC (NYSE:ALLE) shares reached a new 52-week high at $176.14, reflecting strong investor interest and trading volume.
• Analysts have generally upgraded their ratings, with several raising price targets for Allegion, including a boost to $175.00 from Robert W. Baird.
• The company reported a 5.8% year-over-year revenue increase to $1.02 billion for the recent quarter, exceeding analyst expectations.

Allegion PLC (NYSE:ALLE - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $175.91 and last traded at $176.14, with a volume of 124476 shares changing hands. The stock had previously closed at $170.43.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Robert W. Baird increased their price target 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. 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. Barclays raised shares of Allegion from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $156.00 to $163.00 in a research report on Thursday, August 14th. Wells Fargo & Company boosted their price objective on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Finally, Morgan Stanley upped their target price on shares of Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $166.75.

Allegion Trading Up 3.7%

The company has a fifty day simple moving average of $162.42 and a two-hundred day simple moving average of $143.93. 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 stock has a market capitalization of $15.18 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 3.65 and a beta of 1.07.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, topping the consensus estimate of $2.00 by $0.04. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $999.10 million. During the same period in the previous year, the firm posted $1.96 EPS. 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. On average, 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 will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, September 15th. Allegion's dividend payout ratio is 28.33%.

Insiders Place Their Bets

In other news, 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 transaction of $1,781,055.60. Following the completion of the transaction, the senior vice president directly owned 30,023 shares in the company, valued at approximately $4,946,589.48. This trade represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction on Friday, July 25th. The shares were 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. This trade represents a 30.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.23% of the company's stock.

Institutional Trading of Allegion

Institutional investors have recently modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in Allegion in the first quarter worth about $30,000. Sound Income Strategies LLC acquired a new stake in Allegion during the second quarter worth about $32,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Allegion during the second quarter valued at about $33,000. Spire Wealth Management grew its holdings in shares of Allegion by 78.0% in the second quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company's stock valued at $34,000 after purchasing an additional 103 shares in the last quarter. Finally, Garde Capital Inc. acquired a new position in shares of Allegion during the first quarter worth about $36,000. 92.21% of the stock is currently owned by institutional investors.

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.

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