Apollon Wealth Management LLC Acquires 55,774 Shares of Allegion PLC $ALLE

Key Points

• Apollon Wealth Management acquired 55,774 Allegion shares worth approximately $8.6 million, giving it a 0.07% stake. Institutional investors and hedge funds collectively own 92.21% of the company.
• Analyst sentiment is positive, with Allegion receiving a consensus “Moderate Buy” rating and an average price target of $179.60; Goldman Sachs raised its target to $206 and maintained a Buy rating.
• Allegion exceeded quarterly expectations, reporting $2.60 EPS versus the $2.50 consensus and $1.17 billion in revenue, up 9.6% year over year. The company also pays a quarterly dividend of $0.55 per share, yielding about 1.2% annually.

Apollon Wealth Management LLC bought a new stake in shares of Allegion PLC (NYSE:ALLE - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 55,774 shares of the scientific and technical instruments company's stock, valued at approximately $8,576,000. Apollon Wealth Management LLC owned 0.07% of Allegion as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ALLE. Wealth Alliance LLC lifted its holdings in shares of Allegion by 4.5% during the 1st quarter. Wealth Alliance LLC now owns 2,644 shares of the scientific and technical instruments company's stock worth $384,000 after acquiring an additional 114 shares during the period. OLD National Bancorp IN boosted its position in shares of Allegion by 6.2% during the 1st quarter. OLD National Bancorp IN now owns 1,973 shares of the scientific and technical instruments company's stock worth $287,000 after acquiring an additional 116 shares in the last quarter. Allworth Financial LP boosted its position in shares of Allegion by 9.5% during 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. Turtle Creek Wealth Advisors LLC boosted its position in shares of Allegion by 7.9% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 1,831 shares of the scientific and technical instruments company's stock worth $266,000 after acquiring an additional 134 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Allegion by 6.5% in 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 acquiring an additional 138 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALLE shares. Robert W. Baird set a $196.00 price target on Allegion in a research note on Friday. JPMorgan Chase & Co. upped their price target on shares of Allegion from $170.00 to $183.00 and gave the company a "neutral" rating in a research report on Friday. Weiss Ratings upgraded Allegion from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Mizuho set a $180.00 price target on shares of Allegion in a research report on Friday. Finally, The Goldman Sachs Group upped their price objective on shares of Allegion from $182.00 to $206.00 and gave the company a "buy" rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $179.60.

Allegion Trading Down 0.4%

Shares of ALLE stock opened at $178.33 on Tuesday. The company has a market cap of $15.04 billion, a P/E ratio of 20.48, a PEG ratio of 3.59 and a beta of 0.81. The stock has a 50 day simple moving average of $156.74 and a two-hundred day simple moving average of $150.37. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.24 and a current ratio of 1.90. Allegion PLC has a fifty-two week low of $125.00 and a fifty-two week high of $183.11.

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 (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.10. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. Allegion had a return on equity of 35.52% and a net margin of 15.74%. The company's revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.30 earnings per share. Research analysts forecast that Allegion PLC will post 9.04 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 15th. Allegion's payout ratio is presently 27.40%.

Insiders Place Their Bets

In related news, Director Steven Mizell bought 170 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average cost of $158.28 per share, with a total value of $26,907.60. Following the completion of the purchase, the director directly owned 5,899 shares in the company, valued at $933,693.72. The trade was a 2.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Vincent Wenos sold 1,000 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $168.25, for a total transaction of $168,250.00. Following the transaction, the senior vice president directly owned 12,096 shares in the company, valued at approximately $2,035,152. This represents a 7.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.64% of the stock is owned by insiders.

Allegion Company Profile

Allegion plc NYSE: ALLE is a global security products and solutions company focused on protecting people and property. Its portfolio includes mechanical and electronic locks, access control systems, door closers, exit devices, door controls, and commercial doors and frames.

The company serves commercial, institutional, industrial, and residential customers through well-known brands including Schlage, Von Duprin, LCN, Steelcraft, Briton, and aptiQ. Its offerings range from traditional hardware to connected and electronic access solutions designed for offices, schools, healthcare facilities, multifamily properties, and homes.

Allegion was established as an independent public company in 2013 following its separation from Ingersoll Rand.

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