Journey Strategic Wealth LLC Takes Position in Allegion PLC $ALLE

Journey Strategic Wealth LLC purchased a new stake in shares of Allegion PLC (NYSE:ALLE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,548 shares of the scientific and technical instruments company’s stock, valued at approximately $223,000.

Other hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new position in Allegion during the 2nd quarter valued at about $32,000. Spire Wealth Management lifted its position in shares of Allegion by 78.0% in the second quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 103 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Allegion by 91.7% during 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 during the period. National Pension Service grew its position in Allegion by 75.0% during 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 position in Allegion during the first quarter valued at approximately $44,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Stock Down 0.4%

Shares of ALLE stock opened at $162.23 on Tuesday. The stock’s 50 day simple moving average is $171.38 and its 200 day simple moving average is $160.06. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $180.68. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.77. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 3.18 and a beta of 1.07.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.21 by $0.09. Allegion had a return on equity of 40.83% and a net margin of 16.09%.The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the company posted $2.16 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, research analysts predict that Allegion PLC will post 7.77 EPS for the current year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, September 15th. Allegion’s dividend payout ratio (DPR) is 27.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ALLE shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research report on Wednesday, October 8th. Robert W. Baird upped their price target on shares of Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Barclays increased their price objective on Allegion from $185.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Bank of America raised Allegion from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Finally, Zacks Research lowered Allegion from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Allegion currently has an average rating of “Hold” and a consensus target price of $176.38.

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.