Truist Financial Corp lifted its stake in Allegion PLC (NYSE:ALLE - Free Report) by 27.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,877 shares of the scientific and technical instruments company's stock after buying an additional 13,747 shares during the period. Truist Financial Corp owned approximately 0.07% of Allegion worth $9,206,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted 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 purchasing an additional 48,615 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Allegion by 22.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company's stock worth $623,104,000 after buying an additional 878,796 shares during the last quarter. Boston Partners lifted its holdings in Allegion by 0.8% during the 1st quarter. Boston Partners now owns 4,752,391 shares of the scientific and technical instruments company's stock worth $619,700,000 after buying an additional 35,635 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Allegion by 6.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,147,110 shares of the scientific and technical instruments company's stock worth $280,112,000 after purchasing an additional 136,638 shares during the period. Finally, Brown Advisory Inc. raised its position in shares of Allegion by 13.2% during the 1st quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock worth $279,379,000 after purchasing an additional 249,295 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.
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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction dated 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 completion of the transaction, the senior vice president owned 30,023 shares in the company, valued at $4,946,589.48. The trade was a 26.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
ALLE has been the topic of a number of research reports. Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. Wells Fargo & Company raised their target price on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Barclays raised their target price on Allegion from $163.00 to $185.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 1st. Robert W. Baird increased their price target on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Allegion in a research note on Saturday, September 27th. Three research 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, Allegion presently has an average rating of "Hold" and an average target price of $173.00.
Read Our Latest Research Report on ALLE
Allegion Price Performance
Shares of NYSE:ALLE opened at $177.29 on Monday. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $180.34. The business has a fifty day simple moving average of $170.96 and a 200 day simple moving average of $149.98. The firm has a market cap of $15.22 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 3.81 and a beta of 1.07.
Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $999.10 million. During the same period last year, the company earned $1.96 earnings per share. Allegion's quarterly revenue was up 5.8% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, sell-side analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal year.
Allegion Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, September 15th. Allegion's dividend payout ratio (DPR) is 28.33%.
About Allegion
(
Free Report)
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.
Further Reading
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