Janney Montgomery Scott LLC Purchases 6,247 Shares of Allegion PLC $ALLE

Key Points

• Janney Montgomery Scott LLC boosted its position in Allegion PLC shares by 9.6%, acquiring an additional 6,247 shares, bringing its total to 71,087 shares valued at approximately $10.2 million.
• Several major financial institutions have recently upgraded their ratings and price targets for Allegion, including Barclays, JPMorgan Chase, and Goldman Sachs, with a consensus target price of $173.00.
• Allegion announced a quarterly dividend of $0.51 per share, reflecting a dividend yield of 1.2% and a payout ratio of 28.33%.

Janney Montgomery Scott LLC increased its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 9.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,087 shares of the scientific and technical instruments company's stock after buying an additional 6,247 shares during the period. Janney Montgomery Scott LLC owned 0.08% of Allegion worth $10,245,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ALLE. Wayfinding Financial LLC bought a new position in Allegion during the first quarter worth $30,000. Sound Income Strategies LLC bought a new stake in Allegion in the second quarter valued at $32,000. Garde Capital Inc. bought a new stake in Allegion in the first quarter valued at $36,000. Cary Street Partners Investment Advisory LLC increased its stake 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 purchasing an additional 143 shares in the last quarter. Finally, National Pension Service increased its stake 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 purchasing an additional 138 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

ALLE has been the subject of several research analyst reports. Barclays lifted their price target on shares of Allegion from $163.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of Allegion in a research report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Allegion in a research report on Saturday, September 27th. The Goldman Sachs Group boosted their price target on shares of Allegion from $176.00 to $198.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Finally, Wells Fargo & Company boosted their price target on shares of Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $173.00.

Insiders Place Their Bets

In other news, SVP Tracy L. Kemp sold 3,849 shares of the 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 transaction, the senior vice president owned 8,773 shares of the company's stock, valued at $1,446,843.16. This represents a 30.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy P. Eckersley sold 10,810 shares of the 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 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 corporate insiders.

Allegion Stock Performance

Allegion stock opened at $177.29 on Friday. The firm's 50 day simple moving average is $170.96 and its 200 day simple moving average is $149.83. 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 firm has a market capitalization of $15.22 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 3.81 and a beta of 1.07. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $180.34.

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

Allegion Announces Dividend

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

About Allegion

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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