Royal Bank of Canada Has $27.03 Million Holdings in Allegion PLC $ALLE

Royal Bank of Canada cut its position in Allegion PLC (NYSE:ALLE - Free Report) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 207,198 shares of the scientific and technical instruments company's stock after selling 14,487 shares during the quarter. Royal Bank of Canada owned 0.24% of Allegion worth $27,032,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. raised its position in Allegion by 1.8% in the first quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company's stock valued at $545,000 after purchasing an additional 73 shares during the last quarter. Whittier Trust Co. raised its position in Allegion by 16.6% in the first quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company's stock valued at $75,000 after purchasing an additional 82 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Allegion by 2.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company's stock valued at $469,000 after purchasing an additional 83 shares during the last quarter. DMC Group LLC raised its position in Allegion by 2.2% in the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company's stock valued at $516,000 after purchasing an additional 85 shares during the last quarter. Finally, Ethic Inc. raised its position in Allegion by 1.2% in the first quarter. Ethic Inc. now owns 7,514 shares of the scientific and technical instruments company's stock valued at $984,000 after purchasing an additional 87 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Allegion Trading Down 1.4%

Shares of ALLE traded down $2.44 during mid-day trading on Friday, reaching $174.74. 1,100,181 shares of the company were exchanged, compared to its average volume of 693,692. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $177.75. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30. The stock has a market capitalization of $15.00 billion, a PE ratio of 24.27, a PEG ratio of 3.81 and a beta of 1.07. The business has a 50 day simple moving average of $163.55 and a two-hundred day simple moving average of $144.58.

Allegion (NYSE:ALLE - Get Free Report) last released 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 business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The firm's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, September 15th. Allegion's payout ratio is presently 28.33%.

Insider Buying and Selling

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction that occurred on 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 approximately $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion 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 sale, the senior vice president owned 30,023 shares of the company's stock, valued at approximately $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.

Wall Street Analyst Weigh In

Several equities analysts have commented on ALLE shares. Barclays upgraded Allegion from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $156.00 to $163.00 in a research report on Thursday, August 14th. JPMorgan Chase & Co. began coverage on Allegion in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price for the company. Robert W. Baird raised their price objective on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. Finally, Wells Fargo & Company raised their price objective on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Allegion presently has an average rating of "Hold" and an average target price of $166.75.

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.