Louisbourg Investments Inc. Purchases Shares of 21,945 Allegion PLC $ALLE

Louisbourg Investments Inc. acquired a new stake in Allegion PLC (NYSE:ALLE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,945 shares of the scientific and technical instruments company’s stock, valued at approximately $3,163,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Aberdeen Group plc lifted its stake in shares of Allegion by 14.9% in the 2nd quarter. Aberdeen Group plc now owns 74,998 shares of the scientific and technical instruments company’s stock valued at $10,809,000 after purchasing an additional 9,722 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Allegion by 19.3% in the 2nd quarter. Blue Trust Inc. now owns 643 shares of the scientific and technical instruments company’s stock valued at $93,000 after purchasing an additional 104 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Allegion by 51.9% in the 2nd quarter. IFP Advisors Inc now owns 890 shares of the scientific and technical instruments company’s stock valued at $128,000 after purchasing an additional 304 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of Allegion in the 2nd quarter valued at about $391,000. Finally, US Bancorp DE lifted its stake in shares of Allegion by 3.1% in the 2nd quarter. US Bancorp DE now owns 9,173 shares of the scientific and technical instruments company’s stock valued at $1,323,000 after purchasing an additional 276 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 sale, the senior vice president directly owned 30,023 shares in the company, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the senior vice president owned 8,773 shares of the company’s stock, valued at $1,446,843.16. This trade represents a 30.49% 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 insiders.

Allegion Stock Performance

Shares of ALLE opened at $173.20 on Friday. The business’s 50 day moving average is $172.12 and its two-hundred day moving average is $151.32. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $180.34. The firm has a market cap of $14.87 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 3.77 and a beta of 1.07. 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 (NYSE:ALLE) last announced its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $999.10 million. During the same period in the prior year, the company posted $1.96 EPS. Allegion’s quarterly revenue was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Analysts forecast that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, September 15th. Allegion’s payout ratio is 28.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research note on Wednesday. Barclays boosted their price target on Allegion from $163.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Bank of America raised 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 report 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 report on Tuesday, September 16th. Finally, 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 report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Allegion has a consensus rating of “Hold” and a consensus price target of $174.25.

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.