Allegion PLC $ALLE Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its holdings in shares of Allegion PLC (NYSE:ALLE) by 86.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,480 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,615 shares during the period. Sequoia Financial Advisors LLC’s holdings in Allegion were worth $502,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Allegion by 0.7% during the 1st 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 acquiring an additional 4,942 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Allegion by 324.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company’s stock worth $5,606,000 after buying an additional 32,842 shares during the period. Atria Wealth Solutions Inc. increased its position in Allegion by 5.6% during the first 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 position in Allegion by 6.8% during the first 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 buying an additional 7,645 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in Allegion by 10.6% during the first quarter. Asset Management One Co. Ltd. now owns 37,648 shares of the scientific and technical instruments company’s stock worth $4,912,000 after buying an additional 3,618 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays lifted 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. JPMorgan Chase & Co. assumed coverage on Allegion in a research report on Tuesday, June 24th. They set an “overweight” rating and a $170.00 price target on the stock. Zacks Research lowered Allegion from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. Robert W. Baird lifted their price target on Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Allegion in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $174.25.

Insider Activity

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $164.92, for a total transaction 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. This represents 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 hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the company’s stock in a transaction dated 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 sale, the senior vice president owned 30,023 shares of the company’s stock, valued at $4,946,589.48. This represents a 26.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Allegion Stock Up 0.3%

Allegion stock opened at $178.00 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $180.34. The company has a market cap of $15.28 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 3.83 and a beta of 1.07. The stock’s 50 day moving average price is $173.55 and its 200 day moving average price is $153.63.

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. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. During the same period in the previous year, the business earned $1.96 earnings per share. Allegion’s quarterly 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. On average, sell-side analysts predict 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. Investors of record on Monday, September 15th were given a dividend of $0.51 per share. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 1.1%. Allegion’s dividend payout ratio is 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.