QRG Capital Management Inc. Purchases 4,384 Shares of Allegion PLC $ALLE

Key Points

• QRG Capital Management Inc. increased its stake in Allegion PLC by 18.4%, acquiring an additional 4,384 shares, bringing their total ownership to 28,181 shares valued at approximately $4,061,000.
• Several large investors recently acquired stakes in Allegion PLC, with a combined institutional ownership of 92.21% of the stock.
• Barclays raised its target price on Allegion from $163.00 to $185.00, with several other analysts adjusting their ratings and price targets, showing a generally optimistic outlook for the stock.

QRG Capital Management Inc. boosted its position in Allegion PLC (NYSE:ALLE - Free Report) by 18.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,181 shares of the scientific and technical instruments company's stock after buying an additional 4,384 shares during the quarter. QRG Capital Management Inc.'s holdings in Allegion were worth $4,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ALLE. Wayfinding Financial LLC bought a new stake in shares of Allegion in the 1st quarter worth approximately $30,000. Sound Income Strategies LLC purchased a new position in Allegion in the 2nd quarter worth $32,000. Garde Capital Inc. bought a new stake in Allegion in the first quarter worth $36,000. Cary Street Partners Investment Advisory LLC boosted its position in Allegion by 91.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company's stock valued at $39,000 after buying an additional 143 shares during the period. Finally, National Pension Service grew its stake in shares of Allegion by 75.0% during the first quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company's stock valued at $42,000 after buying an additional 138 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the 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 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 represents a 26.47% decrease in their position. The sale 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 Allegion stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the sale, the senior vice president owned 8,773 shares in the company, valued at $1,446,843.16. This represents a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ALLE shares. Barclays increased their target price on Allegion from $163.00 to $185.00 and gave the company an "equal weight" rating in a report on Wednesday, October 1st. Mizuho raised their target price on shares of Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Morgan Stanley lifted their target price 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. Zacks Research cut shares of Allegion from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. Finally, Robert W. Baird raised their price target on shares of Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $174.25.

Allegion Stock Performance

NYSE:ALLE opened at $177.53 on Tuesday. 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 firm's fifty day simple moving average is $171.23 and its 200 day simple moving average is $150.34. The stock has a market cap of $15.24 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 3.81 and a beta of 1.07. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $180.34.

Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, topping the consensus estimate of $2.00 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations 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 last year, the company posted $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, research analysts predict that Allegion PLC will post 7.77 EPS for the current year.

Allegion Dividend Announcement

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