Chevy Chase Trust Holdings LLC Reduces Stake in Allegion PLC $ALLE

Chevy Chase Trust Holdings LLC decreased its stake in shares of Allegion PLC (NYSE:ALLE) by 0.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 45,853 shares of the scientific and technical instruments company’s stock after selling 105 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Allegion worth $6,608,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new position in Allegion in the 2nd quarter worth about $32,000. Wayfinding Financial LLC bought a new position in Allegion in the 1st quarter worth about $30,000. Garde Capital Inc. bought a new position in Allegion in the 1st quarter worth about $36,000. Cary Street Partners Investment Advisory LLC increased its stake in Allegion by 91.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company’s stock worth $39,000 after acquiring an additional 143 shares during the last quarter. Finally, National Pension Service increased its stake in Allegion by 75.0% in the 1st quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock worth $42,000 after acquiring an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Zacks Research lowered Allegion from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. Wells Fargo & Company raised their price target on Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Barclays raised 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. The Goldman Sachs Group lifted 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. Finally, Robert W. Baird raised their target price on Allegion from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $174.25.

Insiders Place Their Bets

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction 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 completion of the transaction, the senior vice president owned 30,023 shares in the company, valued at approximately $4,946,589.48. The trade was 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. Also, SVP Tracy L. Kemp sold 3,849 shares of Allegion 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 transaction, the senior vice president owned 8,773 shares of the company’s stock, valued at $1,446,843.16. The trade was 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 insiders.

Allegion Trading Up 0.3%

ALLE opened at $178.00 on Tuesday. The stock has a market cap of $15.28 billion, a PE 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. The business has a 50 day moving average of $173.55 and a 200-day moving average of $153.63. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $180.34.

Allegion (NYSE:ALLE) last announced 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 analysts’ consensus estimates of $2.00 by $0.04. The business had revenue of $1.02 billion during 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% compared to the same quarter last year. During the same quarter 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. Equities research analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

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

Allegion Company 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.