Strs Ohio Buys Shares of 11,067 Allegion PLC $ALLE

Key Points

• Strs Ohio acquired a new stake in Allegion PLC, buying 11,067 shares valued at approximately $1,444,000 in the first quarter.
• Several institutional investors, including Wayfinding Financial LLC and Garde Capital Inc., also initiated new stakes in Allegion during the same period, indicating increased interest in the stock.
• Allegion recently posted quarterly earnings of $2.04 per share, surpassing analysts' expectations and reporting a 5.8% increase in revenue year-over-year.

Strs Ohio bought a new stake in shares of Allegion PLC (NYSE:ALLE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,067 shares of the scientific and technical instruments company's stock, valued at approximately $1,444,000.

Other large investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new position in shares of Allegion in the first quarter worth about $30,000. Garde Capital Inc. purchased a new position in Allegion during the 1st quarter worth approximately $36,000. Cary Street Partners Investment Advisory LLC lifted its stake in Allegion by 91.7% during the 1st 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 acquiring an additional 143 shares during the period. National Pension Service boosted its holdings in shares of Allegion by 75.0% in the 1st quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company's stock valued at $42,000 after acquiring an additional 138 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Allegion in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Stock Up 1.2%

ALLE stock traded up $2.15 during midday trading on Thursday, reaching $178.76. 1,241,528 shares of the company were exchanged, compared to its average volume of 754,180. The company has a market cap of $15.35 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 3.80 and a beta of 1.07. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $179.92. The stock's 50-day simple moving average is $165.75 and its 200 day simple moving average is $145.94. 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 announced its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, beating 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 business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $999.10 million. During the same period in the prior year, the company earned $1.96 earnings per share. The business's 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. On average, equities analysts forecast that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, September 15th. Allegion's dividend payout ratio (DPR) is 28.33%.

Insiders Place Their Bets

In related news, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $1,781,055.60. Following the transaction, the senior vice president directly owned 30,023 shares in the company, valued at $4,946,589.48. This trade represents a 26.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of Allegion 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 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 disclosure for this sale can be found here. Company insiders own 0.23% of the company's stock.

Analyst Ratings Changes

ALLE has been the topic of several recent research reports. 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 price objective on the stock. The Goldman Sachs Group lifted their price target on Allegion from $176.00 to $198.00 and gave the stock a "buy" rating in a research note on Tuesday. Wells Fargo & Company upped their price objective on shares of Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Mizuho increased their target price on shares of Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Robert W. Baird increased their target price on shares of Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $170.25.

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.