Louisbourg Investments Inc. Makes New $3.16 Million Investment in Allegion PLC $ALLE

Louisbourg Investments Inc. purchased a new position in shares of Allegion PLC (NYSE:ALLE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,945 shares of the scientific and technical instruments company’s stock, valued at approximately $3,163,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Avantax Advisory Services Inc. increased its stake in Allegion by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company’s stock worth $545,000 after purchasing an additional 73 shares during the period. Whittier Trust Co. increased its stake in Allegion by 16.6% during the first quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company’s stock worth $75,000 after purchasing an additional 82 shares during the period. DMC Group LLC increased its stake in Allegion by 2.2% during the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company’s stock worth $516,000 after purchasing an additional 85 shares during the period. Ethic Inc. increased its stake in Allegion by 1.2% during the first quarter. Ethic Inc. now owns 7,514 shares of the scientific and technical instruments company’s stock worth $984,000 after purchasing an additional 87 shares during the period. Finally, Rovin Capital UT ADV increased its stake in Allegion by 2.3% during the first quarter. Rovin Capital UT ADV now owns 4,215 shares of the scientific and technical instruments company’s stock worth $550,000 after purchasing an additional 96 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALLE has been the topic of a number of recent research reports. Zacks Research lowered shares of Allegion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Barclays boosted their price objective 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 objective for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. JPMorgan Chase & Co. initiated coverage on Allegion in a research report on Tuesday, June 24th. They set an “overweight” rating and a $170.00 price objective for the company. Finally, The Goldman Sachs Group boosted their price objective on Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $174.25.

Insiders Place Their Bets

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the firm’s stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of the firm’s stock in a transaction 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 directly owned 8,773 shares of the company’s stock, 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. 0.23% of the stock is currently owned by company insiders.

Allegion Stock Performance

Shares of Allegion stock opened at $173.20 on Friday. The firm has a market capitalization of $14.87 billion, a P/E ratio of 24.06, a P/E/G ratio of 3.77 and a beta of 1.07. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $180.34. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. The firm’s 50 day moving average is $172.12 and its two-hundred day moving average is $151.32.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.04. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $999.10 million. During the same period in the prior year, the company earned $1.96 earnings per share. The business’s 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. Research analysts forecast that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

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

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.