Allegion PLC $ALLE Stock: Kestra Advisory Services LLC Grows Stake

Key Points

• Kestra Advisory Services sharply increased its Allegion stake by 4,243.3% in the third quarter, ending with 105,282 shares valued at about $16.2 million. Institutional investors collectively owned 92.21% of the stock.
• Allegion beat quarterly estimates, reporting EPS of $2.60 versus $2.50 expected and revenue of $1.17 billion versus $1.14 billion; revenue rose 9.6% year over year.
• Analysts’ average rating was “Moderate Buy,” with an average price target of $180.70. The company also pays a quarterly dividend of $0.55 per share, equivalent to a 1.2% yield.

Kestra Advisory Services LLC increased its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 4,243.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,282 shares of the scientific and technical instruments company's stock after acquiring an additional 102,858 shares during the quarter. Kestra Advisory Services LLC owned approximately 0.12% of Allegion worth $16,189,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. DMC Group LLC increased its holdings in Allegion by 2.4% during the third quarter. DMC Group LLC now owns 4,408 shares of the scientific and technical instruments company's stock valued at $678,000 after buying an additional 102 shares during the period. Wealth Alliance LLC increased its holdings in shares of Allegion by 4.5% in the 1st quarter. Wealth Alliance LLC now owns 2,644 shares of the scientific and technical instruments company's stock valued at $384,000 after acquiring an additional 114 shares during the period. Allworth Financial LP raised its position in shares of Allegion by 9.5% in the 2nd quarter. Allworth Financial LP now owns 1,368 shares of the scientific and technical instruments company's stock worth $192,000 after acquiring an additional 119 shares in the last quarter. Platform Technology Partners raised its position in shares of Allegion by 7.6% in the 3rd quarter. Platform Technology Partners now owns 1,854 shares of the scientific and technical instruments company's stock worth $285,000 after acquiring an additional 131 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Allegion by 6.5% during the second quarter. NewEdge Advisors LLC now owns 2,274 shares of the scientific and technical instruments company's stock valued at $319,000 after buying an additional 138 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALLE has been the subject of several recent analyst reports. Robert W. Baird set a $196.00 target price on shares of Allegion in a research note on Friday, October 23rd. Evercore reaffirmed an "outperform" rating and set a $180.00 price target on shares of Allegion in a research report on Tuesday, September 22nd. JPMorgan Chase & Co. increased their price objective on Allegion from $170.00 to $183.00 and gave the company a "neutral" rating in a report on Friday, October 23rd. Mizuho set a $180.00 price objective on Allegion in a research report on Friday, October 23rd. Finally, Weiss Ratings upgraded Allegion from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Allegion currently has an average rating of "Moderate Buy" and an average target price of $180.70.

Insider Activity

In other Allegion news, SVP Timothy Eckersley sold 6,364 shares of the stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $178.62, for a total transaction of $1,136,737.68. Following the sale, the senior vice president directly owned 22,028 shares of the company's stock, valued at approximately $3,934,641.36. This trade represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven Mizell acquired 170 shares of Allegion stock in a transaction on Friday, August 28th. The shares were bought at an average price of $158.28 per share, with a total value of $26,907.60. Following the purchase, the director directly owned 5,899 shares in the company, valued at approximately $933,693.72. The trade was a 2.97% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.64% of the company's stock.

Allegion Trading Up 0.0%

Allegion stock opened at $185.48 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.90 and a debt-to-equity ratio of 0.94. Allegion PLC has a 52 week low of $125.00 and a 52 week high of $195.42. The company has a market capitalization of $15.64 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82. The stock has a 50-day moving average price of $161.34 and a 200 day moving average price of $151.48.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.10. Allegion had a net margin of 15.74% and a return on equity of 35.52%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company earned $2.30 EPS. Allegion's quarterly revenue was up 9.6% on a year-over-year basis. Sell-side analysts anticipate that Allegion PLC will post 9.10 EPS for the current year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Allegion's dividend payout ratio is 27.40%.

About Allegion

Allegion plc is a global provider of security products and solutions for homes, businesses, schools, hospitals and other institutions. Its offerings include mechanical and electronic locks, access-control systems, door closers, exit devices and related door hardware.

The company sells products under brands including Schlage, Von Duprin, LCN and CISA. Its solutions are used in both commercial and residential settings, with operations serving customers in North America and other markets around the world.

Allegion was formed in 2013 when it separated from Ingersoll Rand.

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