10,679 Shares in Allegion PLC $ALLE Bought by Dakota Wealth Management

Key Points

• Dakota Wealth Management acquired 10,679 shares of Allegion PLC, valued at approximately $1,539,000, indicating growing interest from institutional investors.
• Allegion recently posted earnings of $2.04 EPS, exceeding analysts' expectations, and revenue increased by 5.8% year-over-year.
• The company announced a quarterly dividend of $0.51 per share, with an annualized yield of 1.2%, reflecting a strong commitment to shareholder returns.

Dakota Wealth Management acquired a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,679 shares of the scientific and technical instruments company's stock, valued at approximately $1,539,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in shares of Allegion during the first quarter worth $30,000. Garde Capital Inc. bought a new position in Allegion during the first quarter valued at about $36,000. Cary Street Partners Investment Advisory LLC raised its holdings in Allegion by 91.7% during the first 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 buying an additional 143 shares in the last quarter. National Pension Service raised its holdings in Allegion by 75.0% during the first quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company's stock valued at $42,000 after buying an additional 138 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Allegion during the first quarter valued at about $44,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction 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 represents a 30.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction 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. Corporate insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ALLE. Morgan Stanley lifted their price objective on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. The Goldman Sachs Group lifted their price objective on Allegion from $176.00 to $198.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. JPMorgan Chase & Co. began coverage on Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price objective on the stock. Robert W. Baird lifted their price objective on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Barclays upgraded Allegion from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $156.00 to $163.00 in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $170.25.

Allegion Price Performance

ALLE opened at $174.93 on Friday. The company has a fifty day simple moving average of $169.00 and a 200 day simple moving average of $147.94. The stock has a market cap of $15.02 billion, a P/E ratio of 24.30, a P/E/G ratio of 3.72 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.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.00 by $0.04. The firm had revenue of $1.02 billion during 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%.The company's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, research analysts expect that Allegion PLC will post 7.77 EPS for the current year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid 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 is Monday, September 15th. Allegion's dividend payout ratio is currently 28.33%.

Allegion Company 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.

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