Massachusetts Wealth Management Buys Shares of 1,519 Allegion PLC $ALLE

Massachusetts Wealth Management bought a new stake in Allegion PLC (NYSE:ALLE) during the 2nd quarter, Holdings Channel.com reports. The fund bought 1,519 shares of the scientific and technical instruments company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DMC Group LLC grew its stake in Allegion by 2.9% in the second quarter. DMC Group LLC now owns 4,066 shares of the scientific and technical instruments company’s stock valued at $586,000 after purchasing an additional 113 shares during the last quarter. KLP Kapitalforvaltning AS grew its stake in Allegion by 1.9% in the second quarter. KLP Kapitalforvaltning AS now owns 43,800 shares of the scientific and technical instruments company’s stock valued at $6,312,000 after purchasing an additional 800 shares during the last quarter. Avantra Family Wealth Inc. purchased a new stake in shares of Allegion during the second quarter worth about $263,000. Regency Capital Management Inc. DE purchased a new stake in shares of Allegion during the second quarter worth about $2,473,000. Finally, DAVENPORT & Co LLC grew its stake in shares of Allegion by 11.6% during the second quarter. DAVENPORT & Co LLC now owns 5,500 shares of the scientific and technical instruments company’s stock worth $793,000 after acquiring an additional 572 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were 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 of the company’s stock, valued at $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Monday. Robert W. Baird boosted their price target on Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Bank of America upgraded Allegion from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. The Goldman Sachs Group boosted their price target on Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Finally, Barclays boosted their price target on Allegion from $163.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Three research 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, Allegion has a consensus rating of “Hold” and a consensus price target of $174.25.

Allegion Trading Up 0.7%

Allegion stock opened at $178.35 on Thursday. 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 52 week low of $116.57 and a 52 week high of $180.34. The company has a market capitalization of $15.31 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 3.80 and a beta of 1.07. The stock has a 50-day moving average price of $171.77 and a 200 day moving average price of $150.71.

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

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued 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 yield of 1.1%. Allegion’s payout ratio is presently 28.33%.

Allegion Company 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.