Chevy Chase Trust Holdings LLC Sells 105 Shares of Allegion PLC $ALLE

Chevy Chase Trust Holdings LLC decreased its holdings in Allegion PLC (NYSE:ALLE) by 0.2% in the second quarter, Holdings Channel reports. The firm owned 45,853 shares of the scientific and technical instruments company’s stock after selling 105 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Allegion were worth $6,608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Applied Finance Capital Management LLC increased its holdings in shares of Allegion by 4.8% in the 2nd quarter. Applied Finance Capital Management LLC now owns 2,522 shares of the scientific and technical instruments company’s stock worth $363,000 after purchasing an additional 115 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Allegion by 22.5% in the second quarter. Nordea Investment Management AB now owns 1,509,567 shares of the scientific and technical instruments company’s stock worth $216,095,000 after acquiring an additional 277,241 shares during the period. Activest Wealth Management bought a new stake in shares of Allegion in the second quarter worth $102,000. Bridges Investment Management Inc. bought a new stake in shares of Allegion in the second quarter worth $629,000. Finally, Generali Asset Management SPA SGR bought a new stake in shares of Allegion in the second quarter worth $1,887,000. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the company’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 transaction of $1,781,055.60. Following the transaction, the senior vice president 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was 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 in the company, valued at approximately $1,446,843.16. This trade represents a 30.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

ALLE has been the subject of several research analyst reports. Bank of America raised Allegion from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $110.00 to $175.00 in a report on Tuesday, July 29th. Morgan Stanley lifted their price objective on Allegion from $139.00 to $151.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. JPMorgan Chase & Co. initiated coverage on Allegion in a report on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 price objective for the company. Robert W. Baird boosted their price target on Allegion from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Finally, Barclays boosted 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 research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $174.25.

Allegion Price Performance

Shares of Allegion stock opened at $178.00 on Tuesday. The stock’s 50-day simple moving average is $173.55 and its 200-day simple moving average is $153.63. 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 $15.28 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 3.83 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 posted 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. 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%.The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, analysts expect that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.1%. Allegion’s dividend payout ratio is currently 28.33%.

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.