Voleon Capital Management LP Purchases New Holdings in Allegion PLC $ALLE

Key Points

• Voleon Capital Management LP invested approximately $830,000 in Allegion PLC, acquiring 6,362 shares during the first quarter.
• Several other large investors, including Cape Investment Advisory Inc. and Jones Financial Companies, have also increased their holdings in Allegion.
• Analysts have raised Allegion's target price, with Wells Fargo increasing it from $150 to $175, reflecting a generally optimistic outlook for the company's stock.

Voleon Capital Management LP bought a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,362 shares of the scientific and technical instruments company's stock, valued at approximately $830,000.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Zacks Research downgraded shares of Allegion from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. initiated coverage on shares of Allegion in a research note on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target on the stock. The Goldman Sachs Group increased their price target on shares of Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company increased 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. 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, the company has an average rating of "Hold" and a consensus target price of $166.75.

Insider Buying and Selling at Allegion

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 transaction of $1,781,055.60. Following the sale, the senior vice president owned 30,023 shares of the company's stock, valued at $4,946,589.48. The trade was a 26.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total transaction of $634,777.08. Following 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 position. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Allegion Trading Down 1.4%

Shares of Allegion stock traded down $2.44 during trading hours on Friday, hitting $174.74. The company's stock had a trading volume of 1,100,181 shares, compared to its average volume of 693,692. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $177.75. The business has a fifty day moving average of $163.55 and a 200 day moving average of $144.58. The company has a market capitalization of $15.00 billion, a PE ratio of 24.27, a P/E/G ratio of 3.81 and a beta of 1.07. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $999.10 million. During the same quarter in the prior year, the business earned $1.96 earnings per share. The business'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. As a group, equities analysts forecast that Allegion PLC will post 7.77 EPS for the current year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.51 dividend. 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 is presently 28.33%.

About Allegion

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.