Allegion PLC $ALLE Shares Sold by Lafayette Investments Inc.

Key Points

• Lafayette Investments Inc. sold 1,762 shares of Allegion PLC, reducing its holdings by 5.6% in the second quarter, leaving the firm with 29,487 shares valued at $4,250,000.
• Analysts have raised their price targets for Allegion, with Wells Fargo increasing its target from $175.00 to $185.00 and The Goldman Sachs Group raising it from $176.00 to $198.00.
• Allegion recently reported an earnings per share (EPS) of $2.04 for the last quarter, exceeding analysts' consensus estimates and reflecting a year-over-year revenue growth of 5.8%.

Lafayette Investments Inc. reduced its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,487 shares of the scientific and technical instruments company's stock after selling 1,762 shares during the quarter. Lafayette Investments Inc.'s holdings in Allegion were worth $4,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALLE. Wayfinding Financial LLC acquired a new stake in shares of Allegion in the first quarter worth approximately $30,000. Sound Income Strategies LLC acquired a new position in Allegion during the second quarter worth approximately $32,000. Garde Capital Inc. purchased a new position in Allegion during the first quarter worth approximately $36,000. Cary Street Partners Investment Advisory LLC boosted its holdings 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 valued at $39,000 after purchasing an additional 143 shares during the last quarter. Finally, National Pension Service boosted its holdings in shares of Allegion by 75.0% in the 1st quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company's stock valued at $42,000 after purchasing an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALLE. Morgan Stanley upped their price objective on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Wells Fargo & Company raised their price objective 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. started coverage on Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price for the company. Barclays raised their price target on shares of Allegion from $163.00 to $185.00 and gave the company an "equal weight" rating in a report on Wednesday, October 1st. Finally, The Goldman Sachs Group increased their price objective on shares of Allegion from $176.00 to $198.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $174.25.

Insider Buying and Selling

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the 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 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 filing with the SEC, which can be accessed through this hyperlink. Also, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total transaction of $634,777.08. Following the completion of the sale, the senior vice president 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 Price Performance

Shares of ALLE stock opened at $178.00 on Tuesday. The firm has a fifty day simple moving average of $173.55 and a 200-day simple moving average of $153.63. The company has a market capitalization of $15.28 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 3.83 and a beta of 1.07. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $180.34. 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 (NYSE:ALLE - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $999.10 million. During the same quarter in the previous year, the business posted $1.96 EPS. The firm's 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. Equities research analysts anticipate that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 1.1%. Allegion's payout ratio is currently 28.33%.

Allegion Company 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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