Raymond James Trust N.A. Acquires New Position in Allegion plc (NYSE:ALLE)

Posted by on Apr 26th, 2023

Raymond James Trust N.A. bought a new position in shares of Allegion plc (NYSE:ALLE – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,354 shares of the scientific and technical instruments company’s stock, valued at approximately $248,000.

Other large investors have also added to or reduced their stakes in the company. Forsta AP Fonden lifted its stake in shares of Allegion by 37.0% during the 4th quarter. Forsta AP Fonden now owns 42,200 shares of the scientific and technical instruments company’s stock valued at $4,442,000 after buying an additional 11,400 shares in the last quarter. Mission Wealth Management LP boosted its stake in shares of Allegion by 3.0% in the fourth quarter. Mission Wealth Management LP now owns 8,183 shares of the scientific and technical instruments company’s stock worth $861,000 after acquiring an additional 239 shares during the period. Breakwater Capital Group bought a new position in shares of Allegion in the fourth quarter worth about $296,000. Dfpg Investments LLC purchased a new stake in shares of Allegion during the fourth quarter worth about $271,000. Finally, Marshall Financial Group LLC raised its stake in Allegion by 10.9% during the 4th quarter. Marshall Financial Group LLC now owns 9,109 shares of the scientific and technical instruments company’s stock valued at $959,000 after purchasing an additional 894 shares during the period. Hedge funds and other institutional investors own 92.78% of the company’s stock.

Allegion Stock Performance

NYSE ALLE opened at $101.95 on Wednesday. The company has a market cap of $8.96 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.51 and a beta of 1.09. The business’s 50 day moving average price is $107.34 and its 200-day moving average price is $108.11. Allegion plc has a fifty-two week low of $87.33 and a fifty-two week high of $123.46. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.05 and a current ratio of 1.73.

Allegion (NYSE:ALLE – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The scientific and technical instruments company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.22. Allegion had a net margin of 14.00% and a return on equity of 61.54%. The business had revenue of $861.50 million for the quarter, compared to analysts’ expectations of $849.15 million. During the same quarter in the previous year, the business posted $1.11 earnings per share. The business’s revenue was up 21.5% compared to the same quarter last year. Sell-side analysts predict that Allegion plc will post 6.36 earnings per share for the current year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.77%. The ex-dividend date is Wednesday, June 14th. Allegion’s dividend payout ratio is currently 34.75%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ALLE shares. Vertical Research raised shares of Allegion from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Tuesday, January 3rd. The Goldman Sachs Group decreased their price target on shares of Allegion from $138.00 to $119.00 and set a “buy” rating on the stock in a research note on Friday, April 14th. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. Wells Fargo & Company decreased their target price on Allegion from $130.00 to $116.00 and set an “overweight” rating on the stock in a research report on Thursday, April 13th. Finally, Robert W. Baird raised their price target on Allegion from $116.00 to $132.00 in a report on Monday, February 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $120.89.

About Allegion

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Allegion Plc engages in the provision of security products and solutions that keep people safe, secure, and productive. It operates through the Allegion Americas and Allegion International segments. Its brands include CISA, Interflex, LCN, Schlage, SimonsVoss, and Von Duprin. The company was founded on May 9, 2013 and is headquartered in Dublin, Ireland.

See Also

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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