JLB & Associates Inc. Acquires 1,840 Shares of Allegion PLC $ALLE

Key Points

• JLB & Associates Inc. increased its ownership of Allegion PLC by 5.9%, acquiring an additional 1,840 shares to hold a total of 32,830 shares worth approximately $4.73 million.
• Allegion has seen multiple analysts adjust their ratings, with Barclays raising its price target to $163 and JPMorgan establishing a target of $170, indicating a generally positive sentiment toward the stock.
• The company announced a quarterly dividend of $0.51, which will be issued to shareholders on September 30th, representing an annual yield of 1.2%.

JLB & Associates Inc. raised its holdings in shares of Allegion PLC (NYSE:ALLE - Free Report) by 5.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,830 shares of the scientific and technical instruments company's stock after purchasing an additional 1,840 shares during the period. JLB & Associates Inc.'s holdings in Allegion were worth $4,731,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew 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 buying an additional 4,942 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in 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 buying an additional 32,842 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in Allegion by 5.6% in the first quarter. Atria Wealth Solutions Inc. now owns 2,924 shares of the scientific and technical instruments company's stock worth $381,000 after acquiring an additional 154 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Allegion by 284.1% during the first quarter. Merit Financial Group LLC now owns 8,285 shares of the scientific and technical instruments company's stock valued at $1,081,000 after acquiring an additional 6,128 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Allegion by 6.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company's stock worth $15,768,000 after purchasing an additional 7,645 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALLE has been the topic of several recent analyst reports. Barclays raised shares of Allegion from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $156.00 to $163.00 in a research report on Thursday, August 14th. JPMorgan Chase & Co. started coverage on shares of Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target on the stock. Morgan Stanley raised their price target on shares of Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Wells Fargo & Company upped their price objective on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Finally, Robert W. Baird increased their target price on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $170.25.

Insider Activity

In related news, SVP Timothy P. Eckersley sold 10,810 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $1,781,055.60. Following the transaction, the senior vice president 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the business'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 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 disclosure for this sale can be found here. Company insiders own 0.23% of the company's stock.

Allegion Stock Up 0.1%

Shares of Allegion stock opened at $175.11 on Tuesday. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $180.34. 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 company's 50 day moving average is $169.51 and its 200 day moving average is $148.61. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 3.76 and a beta of 1.07.

Allegion (NYSE:ALLE - Get Free Report) last announced its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $2.00 by $0.04. The business had revenue of $1.02 billion during 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%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Research analysts anticipate that Allegion PLC will post 7.77 EPS for the current year.

Allegion Announces Dividend

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