1,463 Shares in Allegion PLC $ALLE Bought by Fulton Bank N.A.

Key Points

• Fulton Bank N.A. acquired 1,463 shares of Allegion PLC, valued at approximately $211,000, during the second quarter, marking a new investment in the company.
• Analysts have adjusted price targets for Allegion, with Robert W. Baird raising it to $175.00 and Wells Fargo & Company also setting the target at $175.00, while maintaining a "Hold" rating consensus.
• Allegion has declared a quarterly dividend of $0.51 per share, representing an annualized dividend of $2.04 and a yield of 1.1%.

Fulton Bank N.A. bought a new stake in Allegion PLC (NYSE:ALLE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,463 shares of the scientific and technical instruments company's stock, valued at approximately $211,000.

A number of other large investors have also added to or reduced their stakes in the business. Wayfinding Financial LLC acquired a new position in Allegion in the 1st quarter valued at approximately $30,000. Garde Capital Inc. acquired a new stake in shares of Allegion in the first quarter valued at about $36,000. Cary Street Partners Investment Advisory LLC raised its position in shares of Allegion by 91.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company's stock worth $39,000 after acquiring an additional 143 shares during the last quarter. National Pension Service boosted its holdings in Allegion by 75.0% in the first quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company's stock valued at $42,000 after acquiring an additional 138 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in Allegion in the first quarter valued at approximately $44,000. Institutional investors own 92.21% of the company's stock.

Wall Street Analyst Weigh In

ALLE has been the topic of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Robert W. Baird boosted their price objective on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Barclays upgraded shares of Allegion from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $156.00 to $163.00 in a research report on Thursday, August 14th. Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $110.00 to $175.00 in a report on Tuesday, July 29th. Finally, Mizuho increased their target price on Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $170.25.

Insider Buying and Selling at Allegion

In related news, SVP Tracy L. Kemp sold 3,849 shares of the company's 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 sale, the senior vice president directly owned 8,773 shares in the company, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the completion of the transaction, the senior vice president owned 30,023 shares of the company's stock, valued at $4,946,589.48. This represents a 26.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Allegion Stock Down 0.9%

NYSE:ALLE traded down $1.53 during trading hours on Monday, hitting $177.80. 783,283 shares of the company traded hands, compared to its average volume of 916,668. 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 firm's 50-day simple moving average is $166.95 and its 200-day simple moving average is $146.92. Allegion PLC has a one year low of $116.57 and a one year high of $180.34. The company has a market cap of $15.26 billion, a PE ratio of 24.69, a PEG ratio of 3.85 and a beta of 1.07.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.04. The business had revenue of $1.02 billion for 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%.The business's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Equities analysts predict that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, September 15th. Allegion's 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.