First Bank & Trust Buys New Stake in Allegion PLC $ALLE

Key Points

• First Bank & Trust has acquired a new stake in Allegion PLC, purchasing 1,513 shares valued at approximately $218,000 during the second quarter.
• Allegion's recent earnings report revealed an EPS of $2.04, surpassing analyst estimates, with revenues of $1.02 billion for the quarter.
• The company announced a quarterly dividend of $0.51 per share, representing a 1.2% dividend yield, to be paid on September 30th.

First Bank & Trust purchased a new stake in shares of Allegion PLC (NYSE:ALLE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,513 shares of the scientific and technical instruments company's stock, valued at approximately $218,000.

Several other hedge funds also recently modified their holdings of ALLE. Focus Partners Wealth acquired a new position in shares of Allegion during the 4th quarter valued at $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Allegion by 5.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,966 shares of the scientific and technical instruments company's stock valued at $1,172,000 after purchasing an additional 434 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Allegion during the 4th quarter valued at $375,000. ProShare Advisors LLC increased its position in shares of Allegion by 55.0% during the 4th quarter. ProShare Advisors LLC now owns 23,081 shares of the scientific and technical instruments company's stock valued at $3,016,000 after purchasing an additional 8,191 shares during the period. Finally, Rafferty Asset Management LLC increased its position in shares of Allegion by 11.1% during the 4th quarter. Rafferty Asset Management LLC now owns 8,117 shares of the scientific and technical instruments company's stock valued at $1,061,000 after purchasing an additional 811 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALLE has been the topic of several research analyst reports. Mizuho lifted their price target on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Wells Fargo & Company lifted their price target on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Robert W. Baird lifted their target price on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. JPMorgan Chase & Co. began coverage on Allegion in a report on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price on the stock. Finally, Zacks Research cut Allegion from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Allegion currently has an average rating of "Hold" and a consensus target price of $170.25.

Insider Buying and Selling at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total value 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 $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Timothy P. Eckersley sold 10,810 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the sale, the senior vice president directly owned 30,023 shares of the company's stock, valued at approximately $4,946,589.48. This trade represents a 26.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.23% of the company's stock.

Allegion Stock Performance

Shares of NYSE ALLE opened at $177.17 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $15.21 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 3.79 and a beta of 1.07. The stock's fifty day simple moving average is $164.68 and its 200 day simple moving average is $145.36. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $177.75.

Allegion (NYSE:ALLE - Get Free Report) last issued its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, topping the consensus estimate of $2.00 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%.Allegion's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, sell-side analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, September 15th. Allegion's dividend payout ratio (DPR) is 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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