Allegion PLC $ALLE Shares Bought by Sierra Legacy Group

Sierra Legacy Group lifted its holdings in Allegion PLC (NYSE:ALLE) by 22.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 21,977 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,085 shares during the quarter. Allegion makes up about 2.5% of Sierra Legacy Group’s portfolio, making the stock its 7th biggest holding. Sierra Legacy Group’s holdings in Allegion were worth $3,167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Huntington National Bank boosted its holdings in Allegion by 7.7% during the second quarter. Huntington National Bank now owns 853 shares of the scientific and technical instruments company’s stock worth $123,000 after buying an additional 61 shares in the last quarter. Aurora Investment Counsel lifted its position in shares of Allegion by 0.6% in the 2nd quarter. Aurora Investment Counsel now owns 12,466 shares of the scientific and technical instruments company’s stock valued at $1,797,000 after acquiring an additional 71 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Allegion by 1.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company’s stock valued at $545,000 after acquiring an additional 73 shares in the last quarter. Mission Wealth Management LP boosted its stake in Allegion by 1.4% in the 2nd quarter. Mission Wealth Management LP now owns 6,123 shares of the scientific and technical instruments company’s stock worth $883,000 after purchasing an additional 85 shares during the period. Finally, Ethic Inc. raised its stake in Allegion by 1.2% during the 1st quarter. Ethic Inc. now owns 7,514 shares of the scientific and technical instruments company’s stock valued at $984,000 after purchasing an additional 87 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Performance

Shares of ALLE stock opened at $161.05 on Wednesday. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $180.68. The stock’s 50-day moving average is $172.46 and its two-hundred day moving average is $159.47. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.77 and a quick ratio of 1.11. The firm has a market cap of $13.86 billion, a P/E ratio of 21.79, a PEG ratio of 3.13 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 business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted $2.16 EPS. The firm’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. Analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.51 per share. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. Allegion’s dividend payout ratio is 27.60%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ALLE shares. Zacks Research cut Allegion from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. Robert W. Baird increased their price objective on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Mizuho lifted their target price on Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. The Goldman Sachs Group upped their target price on Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $176.38.

Allegion Profile

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.