Allegion PLC $ALLE Shares Acquired by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors LLC increased its stake in Allegion PLC by 86.6%, owning 3,480 shares valued at $502,000 after acquiring an additional 1,615 shares in the second quarter.
• Allegion reported earnings of $2.04 per share for the last quarter, exceeding analysts' expectations, with revenues of $1.02 billion, a year-over-year increase of 5.8%.
• Several analysts have raised their price targets for Allegion, with Goldman Sachs setting a new target of $198.00, indicating strong investor interest in the stock.

Sequoia Financial Advisors LLC grew its stake in Allegion PLC (NYSE:ALLE - Free Report) by 86.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,480 shares of the scientific and technical instruments company's stock after acquiring an additional 1,615 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Allegion were worth $502,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC acquired a new stake in shares of Allegion in the 2nd quarter worth $32,000. Wayfinding Financial LLC acquired a new stake in shares of Allegion in the 1st quarter worth $30,000. Garde Capital Inc. acquired a new stake in shares of Allegion in the 1st quarter worth $36,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of Allegion by 91.7% in 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 acquiring an additional 143 shares during the last quarter. Finally, National Pension Service grew its holdings 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 purchasing an additional 138 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Performance

Shares of Allegion stock opened at $178.00 on Tuesday. The business has a 50-day moving average of $173.55 and a 200 day moving average of $153.63. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $180.34. The stock has a market capitalization of $15.28 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 3.83 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.

Allegion (NYSE:ALLE - Get Free Report) last announced its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $2.00 by $0.04. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The company 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 EPS. Allegion'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. As a group, sell-side analysts forecast 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 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 1.1%. The ex-dividend date was Monday, September 15th. Allegion's dividend payout ratio (DPR) is presently 28.33%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Allegion from $176.00 to $198.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of Allegion in a report on Wednesday, October 8th. Wells Fargo & Company increased their price target on Allegion from $175.00 to $185.00 and gave the stock an "equal weight" rating in a report on Monday, October 6th. JPMorgan Chase & Co. assumed coverage on Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target for the company. Finally, Mizuho increased their price target on Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Allegion currently 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 Allegion 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 owned 8,773 shares in the company, valued at approximately $1,446,843.16. This trade represents a 30.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction dated 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 completion of the transaction, the senior vice president owned 30,023 shares of the company's stock, valued at $4,946,589.48. The trade was a 26.47% decrease in their position. 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.

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