Allegion PLC $ALLE Shares Bought by Avior Wealth Management LLC

Key Points

• Avior Wealth Management LLC dramatically increased its stake in Allegion PLC by 3,231.4% during the second quarter, acquiring a total of 3,498 shares valued at $504,000.
• Several institutional investors have also made substantial increases in their holdings, with GAMMA Investing LLC enhancing its stake by an astonishing 38,934.5% in the first quarter.
• Allegion recently reported earnings of $2.04 per share for the last quarter, exceeding the consensus estimate, and announced a $0.51 quarterly dividend with a yield of 1.1%.

Avior Wealth Management LLC raised its position in Allegion PLC (NYSE:ALLE - Free Report) by 3,231.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,498 shares of the scientific and technical instruments company's stock after purchasing an additional 3,393 shares during the period. Avior Wealth Management LLC's holdings in Allegion were worth $504,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ALLE. Wealth Enhancement Advisory Services LLC lifted its position in shares of Allegion by 148.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,127 shares of the scientific and technical instruments company's stock valued at $1,323,000 after acquiring an additional 6,051 shares in the last quarter. GAMMA Investing LLC increased its stake in Allegion by 38,934.5% during the first quarter. GAMMA Investing LLC now owns 196,734 shares of the scientific and technical instruments company's stock worth $25,666,000 after acquiring an additional 196,230 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Allegion by 4.0% in the first quarter. Parallel Advisors LLC now owns 2,746 shares of the scientific and technical instruments company's stock valued at $358,000 after buying an additional 105 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Allegion by 12.6% in the first quarter. Rhumbline Advisers now owns 188,269 shares of the scientific and technical instruments company's stock valued at $24,561,000 after buying an additional 21,013 shares in the last quarter. Finally, Czech National Bank grew its stake in shares of Allegion by 5.9% in the first quarter. Czech National Bank now owns 19,966 shares of the scientific and technical instruments company's stock valued at $2,605,000 after buying an additional 1,118 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALLE has been the subject of a number of recent analyst reports. Mizuho raised their price objective on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Robert W. Baird raised their price target on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. The Goldman Sachs Group boosted 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. Finally, Morgan Stanley boosted their target price 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 research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $170.25.

Allegion Stock Performance

ALLE opened at $177.47 on Wednesday. The company has a market cap of $15.24 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 3.76 and a beta of 1.07. The stock has a 50-day moving average of $170.00 and a 200-day moving average of $148.81. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $180.34. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. During the same quarter in the prior year, the company posted $1.96 EPS. The firm's revenue 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, equities research analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 1.1%. Allegion's dividend payout ratio is 28.33%.

Insider Activity at Allegion

In other 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 value of $1,781,055.60. Following the sale, the senior vice president directly owned 30,023 shares in the company, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate 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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