Wedmont Private Capital Purchases New Holdings in Allegion PLC $ALLE

Wedmont Private Capital acquired a new stake in shares of Allegion PLC (NYSE:ALLE) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 46,406 shares of the scientific and technical instruments company’s stock, valued at approximately $7,136,000. Wedmont Private Capital owned 0.05% of Allegion at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Allegion by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company’s stock worth $123,952,000 after purchasing an additional 13,186 shares during the last quarter. Hawk Ridge Capital Management LP grew its position in Allegion by 32.9% during the 1st quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock worth $116,640,000 after purchasing an additional 198,800 shares during the period. Panagora Asset Management Inc. grew its position in Allegion by 191.8% during the 4th quarter. Panagora Asset Management Inc. now owns 624,297 shares of the scientific and technical instruments company’s stock worth $99,401,000 after purchasing an additional 410,346 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of 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 valued at $87,076,000 after buying an additional 97,304 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in shares of Allegion by 8.1% in the 1st quarter. Boston Trust Walden Corp now owns 566,792 shares of the scientific and technical instruments company’s stock valued at $82,349,000 after buying an additional 42,660 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Allegion

In other news, Director Steven Mizell acquired 170 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were bought at an average price of $158.28 per share, for a total transaction of $26,907.60. Following the acquisition, the director owned 5,899 shares of the company’s stock, valued at approximately $933,693.72. This trade represents a 2.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Vincent Wenos sold 1,000 shares of Allegion stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $168.25, for a total transaction of $168,250.00. Following the sale, the senior vice president directly owned 12,096 shares in the company, valued at approximately $2,035,152. This trade represents a 7.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 11,288 shares of company stock worth $1,764,593 in the last quarter. 0.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Robert W. Baird set a $170.00 target price on Allegion in a report on Friday, July 24th. Evercore restated an “outperform” rating and issued a $180.00 price objective on shares of Allegion in a research report on Tuesday, September 22nd. Weiss Ratings raised shares of Allegion from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Longbow Research upgraded shares of Allegion from a “neutral” rating to a “buy” rating and set a $165.00 target price for the company in a research note on Thursday, June 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Allegion from $150.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $162.50.

Allegion Price Performance

Shares of ALLE traded up $1.78 during mid-day trading on Friday, hitting $151.77. 306,127 shares of the company were exchanged, compared to its average volume of 1,093,201. The stock has a market cap of $12.91 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 3.01 and a beta of 0.81. Allegion PLC has a 1-year low of $125.00 and a 1-year high of $183.11. The company has a 50 day moving average of $157.87 and a 200-day moving average of $145.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.93.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.22 by $0.18. Allegion had a return on equity of 35.41% and a net margin of 15.36%.The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business earned $2.04 EPS. Allegion’s quarterly revenue was up 12.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. Analysts expect that Allegion PLC will post 8.93 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, September 15th. Allegion’s payout ratio is presently 28.87%.

Allegion Company Profile

Allegion plc is a global provider of security products and solutions for homes, businesses, schools, healthcare facilities and other institutions. The company develops and manufactures mechanical and electronic locks, access-control systems, door closers, exit devices, door hardware, and related products designed to help secure and manage entry into buildings.

Allegion’s portfolio includes well-known brands such as Schlage, Von Duprin, LCN, Steelcraft, Briton and Interflex. Its offerings range from residential locks and smart-home security products to commercial access-control systems, biometric and credential-based solutions, doors and frames, and software and services that support building security and access management.

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