Paradoxiom Capital L.P. Takes $7.57 Million Position in Allegion PLC $ALLE

Key Points

• Paradoxiom Capital L.P. acquired a new stake in Allegion PLC, purchasing 58,033 shares valued at approximately $7.57 million, making it the firm's 6th largest position.
• Insider selling occurred recently with SVP Timothy P. Eckersley selling 10,810 shares for over $1.78 million, resulting in a 26.47% decrease in his position.
• Allegion announced a quarterly dividend of $0.51 per share, reflecting an annualized yield of 1.2% with a payout ratio of 28.33%.

Paradoxiom Capital L.P. bought a new stake in shares of Allegion PLC (NYSE:ALLE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 58,033 shares of the scientific and technical instruments company's stock, valued at approximately $7,571,000. Allegion accounts for 4.9% of Paradoxiom Capital L.P.'s holdings, making the stock its 6th biggest holding. Paradoxiom Capital L.P. owned approximately 0.07% of Allegion at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Wayfinding Financial LLC bought a new stake in shares of Allegion during the 1st quarter valued at $30,000. Colonial Trust Co SC grew its holdings in Allegion by 192.9% during the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock valued at $33,000 after purchasing an additional 164 shares during the period. Garde Capital Inc. bought a new stake in Allegion during the first quarter valued at about $36,000. Cary Street Partners Investment Advisory LLC increased 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 in the last quarter. Finally, National Pension Service raised its stake in shares of 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 period. 92.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALLE shares. The Goldman Sachs Group boosted their price objective on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Bank of America upgraded shares of Allegion from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. JPMorgan Chase & Co. began coverage on shares of Allegion in a report on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price for the company. Wells Fargo & Company raised their price target on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Finally, Barclays upgraded Allegion from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $156.00 to $163.00 in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Allegion presently has an average rating of "Hold" and a consensus price target of $166.75.

Allegion Price Performance

Shares of NYSE:ALLE traded up $7.13 during mid-day trading on Thursday, reaching $177.56. The stock had a trading volume of 1,364,704 shares, compared to its average volume of 963,169. The business's 50 day moving average price is $162.42 and its 200 day moving average price is $143.93. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $177.75. The company has a market cap of $15.24 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 3.65 and a beta of 1.07. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14.

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

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid 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 dividend payout ratio (DPR) is presently 28.33%.

Insiders Place Their Bets

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 transaction, the senior vice president owned 8,773 shares in the company, valued at approximately $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company 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.