Massachusetts Wealth Management Buys New Stake in Allegion PLC $ALLE

Massachusetts Wealth Management purchased a new position in Allegion PLC (NYSE:ALLE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,519 shares of the scientific and technical instruments company's stock, valued at approximately $219,000.

Other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new stake in Allegion in the second quarter worth $32,000. Wayfinding Financial LLC bought a new stake in Allegion in the first quarter worth $30,000. Garde Capital Inc. bought a new stake in Allegion in the first quarter worth $36,000. Cary Street Partners Investment Advisory LLC lifted its position 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 worth $39,000 after buying an additional 143 shares during the last quarter. Finally, National Pension Service lifted its position 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 worth $42,000 after buying an additional 138 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction dated 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 directly owned 8,773 shares in the company, 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 legal filing with the SEC, which is available through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction dated 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 completion of the sale, the senior vice president owned 30,023 shares of the company's stock, valued at $4,946,589.48. The trade was a 26.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.23% of the company's stock.

Allegion Stock Performance

ALLE stock opened at $178.35 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. The business has a 50-day moving average price of $171.77 and a 200 day moving average price of $150.71. The company has a market capitalization of $15.31 billion, a P/E ratio of 24.77, a PEG ratio of 3.80 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 released its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 42.62% and a net margin of 16.15%.The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same period 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. As a group, equities research analysts forecast that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, September 15th. Allegion's payout ratio is presently 28.33%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ALLE shares. Weiss Ratings restated a "buy (b)" rating on shares of Allegion in a research report on Wednesday. Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. Wells Fargo & Company lifted their target price on Allegion from $175.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Monday. Barclays lifted their target price on Allegion from $163.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 1st. Finally, The Goldman Sachs Group lifted their target price on Allegion from $176.00 to $198.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $174.25.

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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