Allegion (NYSE:ALLE) SVP Sells $1,136,737.68 in Stock

Key Points

• Allegion SVP Timothy Eckersley sold 6,364 shares at an average price of $178.62, generating approximately $1.14 million. The sale reduced his direct ownership by 22.41%, leaving him with 22,028 shares.
• Allegion shares traded near a one-year high at $179.38, while the company reported quarterly EPS of $2.60 and revenue of $1.17 billion, exceeding analyst expectations. Revenue increased 9.6% year over year.
• The company maintains a quarterly dividend of $0.55 per share, equivalent to a 1.2% yield, and analysts rate the stock a consensus “Moderate Buy” with an average price target of $179.60.

Allegion PLC (NYSE:ALLE - Get Free Report) SVP Timothy Eckersley sold 6,364 shares of Allegion stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $178.62, for a total value of $1,136,737.68. Following the sale, the senior vice president directly owned 22,028 shares in the company, valued at approximately $3,934,641.36. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Allegion Price Performance

NYSE ALLE traded up $1.16 during trading hours on Tuesday, reaching $179.38. 640,100 shares of the company's stock were exchanged, compared to its average volume of 1,102,331. The firm has a fifty day moving average of $156.74 and a 200-day moving average of $150.37. Allegion PLC has a one year low of $125.00 and a one year high of $183.11. The stock has a market cap of $15.25 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 3.59 and a beta of 0.81. The company has a current ratio of 1.90, a quick ratio of 1.24 and a debt-to-equity ratio of 0.94.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.50 by $0.10. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.14 billion. Allegion had a net margin of 15.74% and a return on equity of 35.52%. Allegion's revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.30 earnings per share. On average, equities research analysts predict that Allegion PLC will post 9.04 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Allegion's dividend payout ratio (DPR) is currently 27.40%.

Hedge Funds Weigh In On Allegion

A number of hedge funds have recently made changes to their positions in ALLE. Dimensional Fund Advisors LP lifted its stake in shares of Allegion by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company's stock valued at $123,952,000 after purchasing an additional 13,186 shares during the period. Hawk Ridge Capital Management LP grew its stake in shares of Allegion by 32.9% in the 1st quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company's stock valued at $116,640,000 after buying an additional 198,800 shares during the period. The Manufacturers Life Insurance Company raised its stake in Allegion by 19.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 599,326 shares of the scientific and technical instruments company's stock worth $87,076,000 after buying an additional 97,304 shares during the period. Boston Trust Walden Corp boosted its holdings in Allegion by 8.1% in the first quarter. Boston Trust Walden Corp now owns 566,792 shares of the scientific and technical instruments company's stock worth $82,349,000 after acquiring an additional 42,660 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Allegion by 5.5% during the first quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company's stock valued at $78,766,000 after acquiring an additional 28,449 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALLE has been the subject of several research reports. Evercore restated an "outperform" rating and set a $180.00 price objective on shares of Allegion in a research report on Tuesday, September 22nd. JPMorgan Chase & Co. upped their target price on Allegion from $170.00 to $183.00 and gave the company a "neutral" rating in a research report on Friday. Mizuho set a $180.00 target price on Allegion in a research note on Friday. Weiss Ratings raised Allegion from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Finally, Bank of America raised Allegion from a "neutral" rating to a "buy" rating and upped their price objective for the company from $164.00 to $200.00 in a report on Friday. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Allegion presently has an average rating of "Moderate Buy" and a consensus target price of $179.60.

Allegion Company Profile

Allegion plc NYSE: ALLE is a global security products and solutions company focused on protecting people and property. Its portfolio includes mechanical and electronic locks, access control systems, door closers, exit devices, door controls, and commercial doors and frames.

The company serves commercial, institutional, industrial, and residential customers through well-known brands including Schlage, Von Duprin, LCN, Steelcraft, Briton, and aptiQ. Its offerings range from traditional hardware to connected and electronic access solutions designed for offices, schools, healthcare facilities, multifamily properties, and homes.

Allegion was established as an independent public company in 2013 following its separation from Ingersoll Rand.

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