True North Advisors LLC Acquires 6,860 Shares of Allegion PLC $ALLE

Key Points

• True North Advisors LLC significantly increased its holdings in Allegion PLC by acquiring an additional 6,860 shares, raising its stake by 427.4% to a total of 8,465 shares valued at approximately $1.22 million.
• Allegion recently reported better-than-expected earnings, with a profit of $2.04 per share, beating the consensus estimate of $2.00, and a 5.8% year-over-year revenue increase to $1.02 billion.
• The company announced a quarterly dividend of $0.51 per share, representing a 1.2% yield, with an annualized payout set at $2.04 and a dividend payout ratio of 28.33%.

True North Advisors LLC lifted its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 427.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,465 shares of the scientific and technical instruments company's stock after acquiring an additional 6,860 shares during the period. True North Advisors LLC's holdings in Allegion were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. AQR Capital Management LLC grew its stake in shares of Allegion by 380.0% in the 1st quarter. AQR Capital Management LLC now owns 1,118,960 shares of the scientific and technical instruments company's stock valued at $142,707,000 after buying an additional 885,857 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Allegion by 22.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company's stock valued at $623,104,000 after buying an additional 878,796 shares during the period. Nuveen LLC acquired a new stake in shares of Allegion in the 1st quarter valued at about $40,240,000. Brown Advisory Inc. grew its stake in shares of Allegion by 13.2% in the 1st quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock valued at $279,379,000 after buying an additional 249,295 shares during the period. Finally, Cooke & Bieler LP acquired a new stake in shares of Allegion in the 1st quarter valued at about $32,519,000. 92.21% of the stock is owned by institutional investors.

Insider Activity at Allegion

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 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 owned 8,773 shares of the company's stock, valued at $1,446,843.16. This trade represents a 30.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $1,781,055.60. Following the transaction, the senior vice president directly owned 30,023 shares in the company, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

Allegion Price Performance

ALLE stock opened at $172.92 on Friday. The company has a market capitalization of $14.84 billion, a P/E ratio of 24.02, a price-to-earnings-growth ratio of 3.77 and a beta of 1.07. 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 PLC has a 52-week low of $116.57 and a 52-week high of $180.34. The business has a 50-day simple moving average of $168.56 and a two-hundred day simple moving average of $147.60.

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. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $999.10 million. During the same quarter last year, the firm earned $1.96 EPS. The company'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. Research analysts expect that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently announced 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 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 currently 28.33%.

Wall Street Analyst Weigh In

ALLE has been the subject of several research reports. Morgan Stanley raised their target price on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Wells Fargo & Company raised their target price on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and raised their target price for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. JPMorgan Chase & Co. assumed coverage on Allegion in a research note on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target for the company. Finally, Robert W. Baird lifted their price target on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price 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.

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