Insider Selling: Allegion (NYSE:ALLE) SVP Sells $799,101.89 in Stock

Key Points

• Allegion SVP Tracy Kemp sold 4,469 shares at an average price of $178.81, totaling $799,101.89. The sale reduced her direct ownership by 28.24%, leaving her with 11,358 shares.
• Allegion shares rose 0.6% to $179.38, near the company’s 52-week high of $183.11. The stock has a “Moderate Buy” consensus rating and an average analyst price target of $179.60.
• The company exceeded quarterly expectations, reporting $2.60 EPS and $1.17 billion in revenue, with revenue up 9.6% year over year. Allegion also maintains a $0.55 quarterly dividend, equivalent to a 1.2% yield.

Allegion PLC (NYSE:ALLE - Get Free Report) SVP Tracy Kemp sold 4,469 shares of the firm's stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $178.81, for a total transaction of $799,101.89. Following the transaction, the senior vice president directly owned 11,358 shares in the company, valued at approximately $2,030,923.98. This trade represents a 28.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Allegion Stock Up 0.6%

NYSE ALLE traded up $1.16 during midday trading on Tuesday, hitting $179.38. 640,100 shares of the company traded hands, compared to its average volume of 1,102,331. Allegion PLC has a 52 week low of $125.00 and a 52 week high of $183.11. The company's 50-day simple moving average is $156.74 and its 200-day simple moving average is $150.37. The company 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 debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24.

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

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $0.55 dividend. 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 payout ratio is 27.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley set a $170.00 target price on Allegion in a report on Monday. Bank of America upgraded Allegion from a "neutral" rating to a "buy" rating and lifted their target price for the company from $164.00 to $200.00 in a research report on Friday. Mizuho set a $180.00 price target on Allegion in a report on Friday. Robert W. Baird set a $196.00 price objective on Allegion in a research report on Friday. Finally, Evercore reaffirmed an "outperform" rating and issued a $180.00 target price on shares of Allegion in a research report on Tuesday, September 22nd. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $179.60.

Institutional Trading of Allegion

Hedge funds and other institutional investors have recently bought and sold shares of the business. Continuum Advisory LLC acquired a new stake in Allegion during the second quarter worth approximately $25,000. Elevation Wealth Partners LLC grew its position in shares of Allegion by 1,666.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 212 shares of the scientific and technical instruments company's stock valued at $30,000 after buying an additional 200 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Allegion in the 2nd quarter valued at $42,000. Ameritas Advisory Services LLC purchased a new stake in Allegion in the second quarter valued at $44,000. Finally, Brown Lisle Cummings Inc. boosted its stake in Allegion by 14,733.3% in the third quarter. Brown Lisle Cummings Inc. now owns 445 shares of the scientific and technical instruments company's stock valued at $68,000 after acquiring an additional 442 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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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