Advisors Capital Management LLC Has $9.30 Million Stock Position in Allegion PLC $ALLE

Key Points

• Advisors Capital Management LLC increased its position in Allegion PLC by 2.2%, now owning approximately $9.30 million worth of shares.
• Allegion reported $2.04 earnings per share for the last quarter, exceeding analysts' expectations, and anticipates 7.77 EPS for the current fiscal year.
• Institutional investors own 92.21% of Allegion's stock, indicating dominant institutional interest in the company.

Advisors Capital Management LLC increased its position in Allegion PLC (NYSE:ALLE - Free Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,313 shares of the scientific and technical instruments company's stock after purchasing an additional 1,536 shares during the quarter. Advisors Capital Management LLC owned approximately 0.08% of Allegion worth $9,304,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. boosted 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 buying an additional 73 shares during the last quarter. Whittier Trust Co. boosted its holdings in Allegion by 16.6% during the first quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company's stock worth $75,000 after buying an additional 82 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Allegion by 2.4% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company's stock worth $469,000 after buying an additional 83 shares during the last quarter. DMC Group LLC boosted its holdings in Allegion by 2.2% during the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company's stock worth $516,000 after buying an additional 85 shares during the last quarter. Finally, Ethic Inc. boosted its holdings in Allegion by 1.2% during the first quarter. Ethic Inc. now owns 7,514 shares of the scientific and technical instruments company's stock worth $984,000 after buying an additional 87 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Insider Buying and Selling

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president owned 30,023 shares of the company's stock, valued at $4,946,589.48. This represents a 26.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the company's 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 transaction, the senior vice president directly 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. Corporate insiders own 0.23% of the company's stock.

Allegion Trading Up 4.2%

NYSE ALLE opened at $177.56 on Friday. The firm has a market cap of $15.24 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.66 and a beta of 1.07. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. The stock's 50-day moving average is $163.01 and its 200-day moving average is $144.27. Allegion PLC has a one year low of $116.57 and a one year high of $177.75.

Allegion (NYSE:ALLE - Get Free Report) 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 analysts' consensus estimates of $2.00 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%.Allegion's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Sell-side analysts anticipate that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently declared 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 of this dividend 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 28.33%.

Analyst Ratings Changes

ALLE has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Robert W. Baird raised their target price on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. The Goldman Sachs Group raised their target price on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. initiated coverage on Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price on the stock. Finally, Morgan Stanley raised 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. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $166.75.

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.

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