Weatherly Asset Management L. P. Has $605,000 Holdings in Allegion PLC $ALLE

Weatherly Asset Management L. P. lowered its position in Allegion PLC (NYSE:ALLE) by 2.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,197 shares of the scientific and technical instruments company’s stock after selling 118 shares during the period. Weatherly Asset Management L. P.’s holdings in Allegion were worth $605,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Wayfinding Financial LLC bought a new position in Allegion in the 1st quarter valued at about $30,000. Garde Capital Inc. bought a new stake in shares of Allegion during the first quarter worth about $36,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Allegion by 91.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 143 shares during the last quarter. National Pension Service boosted its stake in Allegion by 75.0% in the first quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 138 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Allegion in the 1st quarter worth about $44,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Stock Performance

ALLE opened at $179.39 on Friday. The business’s 50-day simple moving average is $166.36 and its 200 day simple moving average is $146.32. The firm has a market capitalization of $15.40 billion, a PE ratio of 24.92, a PEG ratio of 3.84 and a beta of 1.07. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $180.34.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (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 business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. During the same quarter in the prior year, the business posted $1.96 earnings per share. The firm’s quarterly 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. As a group, sell-side analysts expect 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 will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, September 15th. Allegion’s payout ratio is currently 28.33%.

Insider Transactions at Allegion

In related news, SVP Tracy L. Kemp sold 3,849 shares of the firm’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 sale, the senior vice president owned 8,773 shares in the company, valued at approximately $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the completion of the sale, the senior vice president owned 30,023 shares in the company, valued at approximately $4,946,589.48. This trade represents a 26.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALLE. Barclays raised shares of Allegion from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $156.00 to $163.00 in a report on Thursday, August 14th. Robert W. Baird upped their target price on shares of Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Bank of America raised shares of Allegion from an “underperform” rating to a “neutral” rating and increased their target price for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. JPMorgan Chase & Co. assumed coverage on shares of Allegion in a report on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 price target on the stock. Finally, Mizuho upped their price objective on shares of Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $170.25.

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.