Park Avenue Securities LLC Has $1.48 Million Holdings in Allegion PLC $ALLE

Key Points

• Park Avenue Securities LLC increased its holdings in Allegion PLC by 156.4%, now owning 10,233 shares valued at $1.48 million.
• Vanguard Group Inc. and other institutional investors also raised their positions in Allegion, contributing to a total of 92.21% institutional ownership of the company.
• Allegion recently reported a net margin of 16.15% for the last quarter, beating earnings expectations with $2.04 earnings per share.

Park Avenue Securities LLC increased its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 156.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,233 shares of the scientific and technical instruments company's stock after acquiring an additional 6,242 shares during the period. Park Avenue Securities LLC's holdings in Allegion were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Allegion by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company's stock worth $1,404,672,000 after acquiring an additional 48,615 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Allegion by 22.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company's stock worth $623,104,000 after acquiring an additional 878,796 shares in the last quarter. Boston Partners boosted its position in shares of Allegion by 0.8% during the 1st quarter. Boston Partners now owns 4,752,391 shares of the scientific and technical instruments company's stock worth $619,700,000 after acquiring an additional 35,635 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Allegion by 6.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,147,110 shares of the scientific and technical instruments company's stock worth $280,112,000 after acquiring an additional 136,638 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Allegion by 13.2% during the 1st quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock worth $279,379,000 after acquiring an additional 249,295 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Buying and Selling at Allegion

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of the firm's stock in a transaction 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 transaction, the senior vice president directly owned 8,773 shares of the company's stock, valued at $1,446,843.16. The trade was a 30.49% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on ALLE. Barclays upgraded shares of Allegion from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $156.00 to $163.00 in a research report on Thursday, August 14th. Bank of America raised shares of Allegion from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. The Goldman Sachs Group increased 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. Morgan Stanley increased their price objective on shares of Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Finally, Mizuho increased their price objective on shares of Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $170.25.

Allegion Price Performance

ALLE stock opened at $172.92 on Friday. The company has a fifty day moving average price of $168.56 and a 200-day moving average price of $147.60. The company has a market capitalization of $14.84 billion, a P/E ratio of 24.02, a PEG ratio of 3.77 and a beta of 1.07. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $180.34. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) 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 net margin of 16.15% and a return on equity of 42.62%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, equities analysts expect that Allegion PLC will post 7.77 EPS for the current year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 1.2%. Allegion's dividend payout ratio (DPR) 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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