Petrus Trust Company LTA Decreases Holdings in Allegion PLC $ALLE

Key Points

• Petrus Trust Company LTA has reduced its holdings in Allegion PLC by 34.0%, now owning 4,919 shares worth approximately $642,000.
• Several institutional investors, including Ameriprise Financial, which increased its stake by 79.9%, have been actively changing their positions in Allegion recently.
• Allegion recently declared a quarterly dividend of $0.51 per share, with an annualized dividend yield of 1.2%, to be paid on September 30th.

Petrus Trust Company LTA trimmed its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 34.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,919 shares of the scientific and technical instruments company's stock after selling 2,539 shares during the period. Petrus Trust Company LTA's holdings in Allegion were worth $642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALLE. Algert Global LLC purchased a new position in Allegion during the fourth quarter valued at $568,000. Ameriprise Financial Inc. lifted its stake in shares of Allegion by 79.9% in the fourth quarter. Ameriprise Financial Inc. now owns 135,605 shares of the scientific and technical instruments company's stock worth $17,729,000 after buying an additional 60,223 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Allegion by 8.6% in the fourth quarter. Benjamin Edwards Inc. now owns 1,642 shares of the scientific and technical instruments company's stock worth $215,000 after buying an additional 130 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Allegion by 3.7% in the fourth quarter. Baird Financial Group Inc. now owns 8,315 shares of the scientific and technical instruments company's stock worth $1,087,000 after buying an additional 293 shares in the last quarter. Finally, Cary Street Partners Financial LLC purchased a new position in shares of Allegion in the fourth quarter worth about $448,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction 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. This trade represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $1,781,055.60. Following the sale, the senior vice president owned 30,023 shares of the company's stock, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALLE. Morgan Stanley raised their price target on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Wells Fargo & Company raised their price target on shares of Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Barclays raised shares of Allegion from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $156.00 to $163.00 in a research note on Thursday, August 14th. Zacks Research downgraded shares of Allegion from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $166.75.

Allegion Price Performance

Shares of ALLE stock opened at $171.90 on Friday. 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 firm's 50-day moving average is $160.95 and its two-hundred day moving average is $143.13. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $173.25. The company has a market capitalization of $14.76 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 3.69 and a beta of 1.07.

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

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date is 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 (DPR) 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.

Want to see what other hedge funds are holding ALLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegion PLC (NYSE:ALLE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.