Gamco Investors INC. ET AL Buys Shares of 3,533 Allegion plc (NYSE:ALLE)

Posted by Defense World Staff on Jun 12th, 2023

Gamco Investors INC. ET AL bought a new stake in shares of Allegion plc (NYSE:ALLE – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,533 shares of the scientific and technical instruments company’s stock, valued at approximately $372,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Allegion by 3.5% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,555 shares of the scientific and technical instruments company’s stock valued at $4,893,000 after purchasing an additional 1,834 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Allegion by 5.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,291 shares of the scientific and technical instruments company’s stock worth $452,000 after acquiring an additional 229 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Allegion by 14.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 182,592 shares of the scientific and technical instruments company’s stock worth $19,220,000 after purchasing an additional 22,547 shares during the period. New England Capital Financial Advisors LLC acquired a new stake in Allegion during the 4th quarter worth about $57,000. Finally, Raymond James Trust N.A. acquired a new stake in shares of Allegion during the 4th quarter valued at about $248,000. Institutional investors own 92.78% of the company’s stock.

Allegion Trading Up 1.9 %

NYSE ALLE traded up $2.12 on Monday, reaching $114.77. The stock had a trading volume of 282,795 shares, compared to its average volume of 761,066. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 2.80 and a beta of 1.09. The company has a quick ratio of 1.17, a current ratio of 1.87 and a debt-to-equity ratio of 2.02. Allegion plc has a 12-month low of $87.33 and a 12-month high of $123.46. The stock has a fifty day moving average price of $106.49 and a two-hundred day moving average price of $109.58.

Allegion (NYSE:ALLE – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.35 by $0.23. The business had revenue of $923.00 million during the quarter, compared to the consensus estimate of $846.29 million. Allegion had a net margin of 14.07% and a return on equity of 61.34%. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. As a group, sell-side analysts forecast that Allegion plc will post 6.63 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a dividend of $0.45 per share. The ex-dividend date is Wednesday, June 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.57%. Allegion’s payout ratio is currently 32.55%.

Insider Buying and Selling

In related news, SVP Jeffrey N. Braun sold 2,278 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $110.34, for a total transaction of $251,354.52. Following the completion of the transaction, the senior vice president now directly owns 11,336 shares of the company’s stock, valued at $1,250,814.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ALLE. Barclays dropped their target price on Allegion from $129.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, April 6th. StockNews.com assumed coverage on Allegion in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Mizuho raised their target price on shares of Allegion from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Morgan Stanley raised their target price on shares of Allegion from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. Finally, Robert W. Baird reduced their price target on shares of Allegion from $130.00 to $126.00 in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Allegion currently has a consensus rating of “Hold” and an average target price of $120.22.

Allegion Company Profile

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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.