Sagespring Wealth Partners LLC Raises Position in Allegion PLC $ALLE

Sagespring Wealth Partners LLC grew its position in shares of Allegion PLC (NYSE:ALLE) by 14.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,934 shares of the scientific and technical instruments company’s stock after acquiring an additional 377 shares during the period. Sagespring Wealth Partners LLC’s holdings in Allegion were worth $423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Allegion by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 740,233 shares of the scientific and technical instruments company’s stock worth $96,571,000 after purchasing an additional 4,942 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Allegion by 324.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company’s stock valued at $5,606,000 after buying an additional 32,842 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in shares of Allegion by 5.6% in the 1st quarter. Atria Wealth Solutions Inc. now owns 2,924 shares of the scientific and technical instruments company’s stock worth $381,000 after buying an additional 154 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Allegion by 6.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company’s stock worth $15,768,000 after acquiring an additional 7,645 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Allegion by 10.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 37,648 shares of the scientific and technical instruments company’s stock valued at $4,912,000 after acquiring an additional 3,618 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALLE. Barclays raised their target price on shares of Allegion from $163.00 to $185.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Morgan Stanley raised their price objective on Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Zacks Research downgraded Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Robert W. Baird increased their target price on Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Finally, Mizuho lifted their price target on Allegion from $145.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $174.25.

Allegion Price Performance

Shares of ALLE opened at $177.57 on Friday. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $180.34. The company has a market capitalization 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 firm has a 50 day moving average of $173.28 and a 200 day moving average of $152.92. 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 released its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, equities research analysts anticipate that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, September 15th. Allegion’s dividend payout ratio (DPR) is presently 28.33%.

Insider Transactions at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of Allegion 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 directly owned 8,773 shares in the company, valued at $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Timothy P. Eckersley sold 10,810 shares of the 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 transaction, the senior vice president owned 30,023 shares in the company, valued at approximately $4,946,589.48. This trade represents a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

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.