Callan Family Office LLC Acquires New Position in Allegion PLC $ALLE

Key Points

• Callan Family Office LLC has acquired a new stake in Allegion PLC, purchasing 2,711 shares valued at approximately $391,000 in the second quarter.
• Insider transactions were noted, with SVP Tracy L. Kemp selling 3,849 shares and SVP Timothy P. Eckersley selling 10,810 shares, representing significant decreases in their respective positions.
• Analyst ratings for Allegion have varied, with Morgan Stanley raising its price target to $151.00, while Zacks Research downgraded the stock to a "hold" rating.

Callan Family Office LLC bought a new stake in shares of Allegion PLC (NYSE:ALLE - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,711 shares of the scientific and technical instruments company's stock, valued at approximately $391,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALLE. Charles Schwab Investment Management Inc. lifted its stake in shares of Allegion by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 740,233 shares of the scientific and technical instruments company's stock worth $96,571,000 after acquiring an additional 4,942 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Allegion by 324.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company's stock valued at $5,606,000 after acquiring an additional 32,842 shares during the period. Atria Wealth Solutions Inc. raised its holdings in shares of Allegion by 5.6% during the first quarter. Atria Wealth Solutions Inc. now owns 2,924 shares of the scientific and technical instruments company's stock valued at $381,000 after acquiring an additional 154 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Allegion by 6.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company's stock valued at $15,768,000 after acquiring an additional 7,645 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Allegion by 10.6% during the first quarter. Asset Management One Co. Ltd. now owns 37,648 shares of the scientific and technical instruments company's stock valued at $4,912,000 after acquiring an additional 3,618 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Allegion

In related news, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction that occurred on 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 of the company's stock, valued at $1,446,843.16. This trade represents a 30.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion 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 transaction, the senior vice president directly owned 30,023 shares in the company, valued at $4,946,589.48. The trade was a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ALLE has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. The Goldman Sachs Group upped their price objective on shares of Allegion from $176.00 to $198.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Barclays upped their price objective on shares of Allegion from $163.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 1st. Wells Fargo & Company upped their price objective on shares of Allegion from $175.00 to $185.00 and gave the company an "equal weight" rating in a research note on Monday, October 6th. Finally, Zacks Research lowered shares of Allegion from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $174.25.

Allegion Price Performance

NYSE:ALLE opened at $177.35 on Thursday. The company has a 50-day moving average of $172.73 and a 200-day moving average of $152.28. The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 3.77 and a beta of 1.07. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $180.34. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30.

Allegion (NYSE:ALLE - Get Free Report) last released 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. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, equities research analysts anticipate that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.51 per share. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 1.2%. Allegion's payout ratio is currently 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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