Stephens Inc. AR Invests $253,000 in Allegion PLC $ALLE

Stephens Inc. AR purchased a new position in Allegion PLC (NYSE:ALLE) in the second quarter, Holdings Channel reports. The fund purchased 1,757 shares of the scientific and technical instruments company’s stock, valued at approximately $253,000.

A number of other hedge funds have also made changes to their positions in ALLE. GAMMA Investing LLC lifted its position in shares of Allegion by 199.2% in the first quarter. GAMMA Investing LLC now owns 1,508 shares of the scientific and technical instruments company’s stock worth $197,000 after purchasing an additional 1,004 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Allegion by 6.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,243 shares of the scientific and technical instruments company’s stock worth $554,000 after purchasing an additional 250 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Allegion by 10.6% in the first quarter. Asset Management One Co. Ltd. now owns 37,648 shares of the scientific and technical instruments company’s stock worth $4,912,000 after purchasing an additional 3,618 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Allegion by 6.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company’s stock valued at $15,768,000 after acquiring an additional 7,645 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Allegion by 174.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,845 shares of the scientific and technical instruments company’s stock valued at $3,701,000 after acquiring an additional 18,320 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALLE. Robert W. Baird raised their price objective on shares of Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research report on Friday. Barclays raised their price objective on shares of Allegion from $185.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday. Bank of America raised shares of Allegion from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group raised their price objective on shares of Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $176.38.

Allegion Trading Down 2.2%

NYSE:ALLE opened at $167.37 on Monday. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $180.68. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 3.61 and a beta of 1.07. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $173.98 and its 200-day moving average is $155.11.

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

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.2%. Allegion’s dividend payout ratio (DPR) is currently 27.60%.

Insider Activity at Allegion

In other news, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction that occurred on Thursday, August 7th. The shares were 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 $4,946,589.48. This trade represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by corporate 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.