Envestnet Asset Management Inc. Purchases 129,156 Shares of Allegion PLC $ALLE

Envestnet Asset Management Inc. lifted its position in Allegion PLC (NYSE:ALLE) by 32.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 527,338 shares of the scientific and technical instruments company’s stock after buying an additional 129,156 shares during the period. Envestnet Asset Management Inc.’s holdings in Allegion were worth $76,000,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ALLE. Wayfinding Financial LLC bought a new position in shares of Allegion in the first quarter worth $30,000. Sound Income Strategies LLC bought a new position in shares of Allegion in the second quarter worth $32,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Allegion by 91.7% in 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 period. National Pension Service increased its holdings in shares of Allegion by 75.0% in the first quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 138 shares during the period. Finally, Zions Bancorporation National Association UT bought a new position in shares of Allegion in the first quarter worth $44,000. Institutional investors own 92.21% of the company’s stock.

Insider Activity

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the firm’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 transaction, the senior vice president directly owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. This trade represents a 26.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America raised shares of Allegion from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $110.00 to $175.00 in a report on Tuesday, July 29th. Barclays increased their target price on Allegion from $185.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, October 24th. Wells Fargo & Company increased their target price on Allegion from $175.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Zacks Research cut Allegion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $176.38.

Allegion Stock Down 0.3%

Shares of NYSE:ALLE opened at $165.12 on Friday. The stock’s 50-day moving average price is $173.95 and its 200-day moving average price is $156.11. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $180.68. The stock has a market capitalization of $14.21 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 3.24 and a beta of 1.07. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06.

Allegion (NYSE:ALLE) last announced its quarterly earnings data 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 firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm earned $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. On average, equities analysts anticipate that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently disclosed 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. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, September 15th. Allegion’s dividend payout ratio (DPR) is 27.60%.

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.