Allegion PLC $ALLE Shares Bought by TD Private Client Wealth LLC

Key Points

• TD Private Client Wealth LLC increased its holdings in Allegion PLC by 42.3% during the second quarter, owning 21,320 shares valued at approximately $3.07 million by the quarter's end.
• Allegion reported $2.04 earnings per share for the recent quarter, exceeding analysts' estimates and showing a 5.8% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.51 per share, reflecting an annualized yield of 1.2%, with the ex-dividend date set for September 15th.

TD Private Client Wealth LLC grew its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 42.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,320 shares of the scientific and technical instruments company's stock after buying an additional 6,342 shares during the quarter. TD Private Client Wealth LLC's holdings in Allegion were worth $3,073,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ALLE. Vanguard Group Inc. lifted its holdings in Allegion by 0.5% in the first quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company's stock valued at $1,404,672,000 after acquiring an additional 48,615 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Allegion by 22.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company's stock valued at $623,104,000 after purchasing an additional 878,796 shares in the last quarter. Boston Partners lifted its stake in shares of Allegion by 0.8% in the first quarter. Boston Partners now owns 4,752,391 shares of the scientific and technical instruments company's stock valued at $619,700,000 after purchasing an additional 35,635 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Allegion by 6.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,147,110 shares of the scientific and technical instruments company's stock valued at $280,112,000 after purchasing an additional 136,638 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in Allegion by 13.2% during the first quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock worth $279,379,000 after buying an additional 249,295 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Down 1.1%

ALLE opened at $175.40 on Thursday. The firm has a market cap of $15.06 billion, a P/E ratio of 24.36, a PEG ratio of 3.81 and a beta of 1.07. The business's fifty day simple moving average is $168.17 and its 200 day simple moving average is $147.32. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $180.34. 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 (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 for the quarter, beating 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 during the quarter, compared to the consensus estimate of $999.10 million. During the same quarter in the previous year, the company posted $1.96 EPS. The firm'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, equities research analysts anticipate that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 1.2%. Allegion's dividend payout ratio (DPR) is 28.33%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ALLE shares. Zacks Research cut shares of Allegion from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. 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. Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. Morgan Stanley upped their target price on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group lifted their price target on Allegion from $176.00 to $198.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $170.25.

Insider Activity at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction 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 completion of the transaction, the senior vice president directly owned 8,773 shares in the company, valued at approximately $1,446,843.16. The trade was a 30.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

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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