QRG Capital Management Inc. Grows Stock Holdings in Allegion PLC $ALLE

QRG Capital Management Inc. increased its stake in Allegion PLC (NYSE:ALLE) by 18.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,181 shares of the scientific and technical instruments company’s stock after buying an additional 4,384 shares during the period. QRG Capital Management Inc.’s holdings in Allegion were worth $4,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in Allegion in the first quarter worth $30,000. Sound Income Strategies LLC purchased a new position in shares of Allegion in the 2nd quarter worth about $32,000. Garde Capital Inc. purchased a new position in shares of Allegion in the 1st quarter worth about $36,000. Cary Street Partners Investment Advisory LLC boosted its stake in Allegion by 91.7% in the 1st 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 in the last quarter. Finally, National Pension Service grew its position in Allegion by 75.0% during the 1st quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock valued at $42,000 after purchasing an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the subject of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a report on Monday. Robert W. Baird boosted their price objective on shares of Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Morgan Stanley increased their target price on Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Zacks Research cut Allegion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Finally, Barclays increased their price objective on Allegion from $163.00 to $185.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $174.25.

Allegion Stock Performance

ALLE stock opened at $177.53 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $180.34. The company has a market cap of $15.24 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 3.81 and a beta of 1.07. The stock’s fifty day moving average price is $171.23 and its 200-day moving average price is $150.34.

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

Allegion Announces Dividend

The firm also recently disclosed 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 1.1%. The ex-dividend date was Monday, September 15th. Allegion’s dividend payout ratio is 28.33%.

Insider Buying and Selling

In related news, 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 transaction of $634,777.08. Following the completion of the sale, the senior vice president directly owned 8,773 shares in the company, valued at approximately $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the sale, the senior vice president directly owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

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.