Grimes & Company Inc. Purchases New Stake in Allegion PLC $ALLE

Grimes & Company Inc. purchased a new stake in Allegion PLC (NYSE:ALLE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,459 shares of the scientific and technical instruments company's stock, valued at approximately $210,000.

Several other hedge funds have also recently bought and sold shares of ALLE. Wayfinding Financial LLC purchased a new position in Allegion in the first quarter valued at approximately $30,000. Sound Income Strategies LLC purchased a new position in Allegion in the second quarter valued at approximately $32,000. Garde Capital Inc. purchased a new position in Allegion in the first quarter valued at approximately $36,000. Cary Street Partners Investment Advisory LLC raised its holdings in Allegion by 91.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company's stock valued at $39,000 after buying an additional 143 shares during the period. Finally, National Pension Service raised 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 buying an additional 138 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Stock Down 0.1%

ALLE stock opened at $177.12 on Wednesday. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $180.34. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $15.21 billion, a P/E ratio of 24.60, a PEG ratio of 3.81 and a beta of 1.07. The firm has a 50 day simple moving average of $171.50 and a 200-day simple moving average of $150.52.

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 firm 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 was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, equities research analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, September 15th. Allegion's payout ratio is currently 28.33%.

Wall Street Analyst Weigh In

Several research firms recently commented on ALLE. Mizuho raised their price target on shares of Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a report on Friday, July 25th. The Goldman Sachs Group lifted 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. Robert W. Baird lifted their price objective on shares of Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Barclays lifted 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. 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 research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $174.25.

Insiders Place Their Bets

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

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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