Old West Investment Management LLC Purchases Shares of 24,767 Allegion PLC $ALLE

Old West Investment Management LLC purchased a new position in shares of Allegion PLC (NYSE:ALLE) in the second quarter, Holdings Channel.com reports. The firm purchased 24,767 shares of the scientific and technical instruments company’s stock, valued at approximately $3,569,000. Allegion makes up about 1.2% of Old West Investment Management LLC’s investment portfolio, making the stock its 28th largest position.

A number of other hedge funds have also made changes to their positions in the business. Huntington National Bank lifted its stake 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 purchasing an additional 61 shares during the last quarter. Aurora Investment Counsel raised its holdings in Allegion by 0.6% during the second quarter. Aurora Investment Counsel now owns 12,466 shares of the scientific and technical instruments company’s stock worth $1,797,000 after purchasing an additional 71 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Allegion by 1.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company’s stock worth $545,000 after buying an additional 73 shares during the last quarter. Whittier Trust Co. lifted its position in shares of Allegion by 16.6% during the 1st quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company’s stock worth $75,000 after buying an additional 82 shares during the last quarter. Finally, Mission Wealth Management LP boosted its holdings in shares of 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 valued at $883,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Down 2.4%

ALLE opened at $164.31 on Friday. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $180.68. The business has a 50 day moving average price of $173.11 and a two-hundred day moving average price of $158.73. 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 has a market cap of $14.14 billion, a PE ratio of 22.23, a P/E/G ratio of 3.29 and a beta of 1.07.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous 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 anticipate that Allegion PLC will post 7.77 EPS for the current year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, September 15th. Allegion’s dividend payout ratio (DPR) is 27.60%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALLE. Wells Fargo & Company boosted their price target on shares of Allegion from $175.00 to $185.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Zacks Research downgraded Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Mizuho raised their price target on Allegion from $145.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Barclays lifted their price target on Allegion from $185.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Finally, Bank of America raised Allegion from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $110.00 to $175.00 in a report on Tuesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Allegion presently has a consensus rating of “Hold” and a consensus price target 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.