Ballentine Partners LLC Invests $244,000 in Allegion PLC $ALLE

Key Points

• Ballentine Partners LLC has acquired a new stake in Allegion PLC, purchasing 1,695 shares valued at approximately $244,000 during the second quarter.
• Analysts have provided varying price targets for Allegion, with Goldman Sachs raising its target from $176 to $198, while Zacks downgraded the stock from a "strong-buy" to a "hold" rating.
• Allegion recently announced a quarterly dividend of $0.51 per share, reflecting a yield of 1.2%, with the ex-dividend date set for September 15th.

Ballentine Partners LLC bought a new stake in Allegion PLC (NYSE:ALLE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,695 shares of the scientific and technical instruments company's stock, valued at approximately $244,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in shares of Allegion by 15.8% during the 2nd quarter. Fifth Third Bancorp now owns 2,380 shares of the scientific and technical instruments company's stock worth $343,000 after purchasing an additional 324 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Allegion by 28.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,937 shares of the scientific and technical instruments company's stock worth $279,000 after buying an additional 429 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Allegion by 156.4% in the 2nd quarter. Park Avenue Securities LLC now owns 10,233 shares of the scientific and technical instruments company's stock worth $1,475,000 after buying an additional 6,242 shares in the last quarter. CX Institutional raised its holdings in shares of Allegion by 31.1% in the 2nd quarter. CX Institutional now owns 1,308 shares of the scientific and technical instruments company's stock worth $189,000 after buying an additional 310 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in Allegion during the 2nd quarter worth approximately $479,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ALLE shares. Morgan Stanley increased their price target on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. The Goldman Sachs Group raised their price target on Allegion from $176.00 to $198.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Zacks Research downgraded Allegion from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Robert W. Baird raised their price objective on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $170.25.

Insiders Place Their Bets

In other news, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction of $634,777.08. Following the transaction, the senior vice president owned 8,773 shares in the company, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy P. Eckersley sold 10,810 shares of the company's stock in a transaction dated 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 sale, the senior vice president owned 30,023 shares in the company, valued at $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company's stock.

Allegion Stock Up 0.1%

NYSE ALLE opened at $175.11 on Tuesday. 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 company has a 50 day moving average of $169.51 and a 200-day moving average of $148.61. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 3.76 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 EPS 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 business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. During the same period in the previous year, the business earned $1.96 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, equities research analysts expect that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend 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 is 28.33%.

Allegion 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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