OLD National Bancorp IN Buys 144 Shares of Allegion PLC $ALLE

OLD National Bancorp IN boosted its holdings in Allegion PLC (NYSE:ALLE) by 7.2% in the second quarter, HoldingsChannel reports. The firm owned 2,155 shares of the scientific and technical instruments company’s stock after purchasing an additional 144 shares during the period. OLD National Bancorp IN’s holdings in Allegion were worth $311,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in Allegion in the first quarter worth approximately $30,000. Sound Income Strategies LLC bought a new stake in Allegion in the second quarter worth approximately $32,000. Garde Capital Inc. bought a new stake in Allegion in the first quarter worth approximately $36,000. Cary Street Partners Investment Advisory LLC increased its holdings in 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 worth $39,000 after purchasing an additional 143 shares in the last quarter. Finally, National Pension Service increased its holdings in Allegion by 75.0% in the first quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 138 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALLE has been the subject of a number of research analyst reports. Zacks Research downgraded Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Barclays boosted their price objective on Allegion from $163.00 to $185.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. began coverage on Allegion in a report on Tuesday, June 24th. They set an “overweight” rating and a $170.00 price objective for the company. Morgan Stanley boosted their price objective on Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Finally, Robert W. Baird boosted their price objective on Allegion from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $174.25.

Allegion Stock Down 0.1%

Shares of NYSE:ALLE opened at $177.12 on Wednesday. The stock has a market cap of $15.21 billion, a price-to-earnings ratio of 24.60, a PEG 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 PLC has a 12-month low of $116.57 and a 12-month high of $180.34. The business’s 50 day moving average is $171.50 and its 200 day moving average is $150.52.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%.Allegion’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, sell-side analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 1.2%. Allegion’s payout ratio is currently 28.33%.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the transaction, the senior vice president owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the completion of the transaction, the senior vice president directly owned 8,773 shares in the company, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

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.