Stratos Wealth Partners LTD. Reduces Holdings in Allegion plc (NYSE:ALLE)

Posted by Defense World Staff on Oct 6th, 2023

Stratos Wealth Partners LTD. lowered its position in Allegion plc (NYSE:ALLE – Free Report) by 30.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,945 shares of the scientific and technical instruments company’s stock after selling 855 shares during the period. Stratos Wealth Partners LTD.’s holdings in Allegion were worth $233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALLE. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Allegion by 27.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,068 shares of the scientific and technical instruments company’s stock worth $996,000 after purchasing an additional 1,944 shares during the last quarter. American Century Companies Inc. lifted its position in Allegion by 11.8% during the first quarter. American Century Companies Inc. now owns 5,825 shares of the scientific and technical instruments company’s stock worth $639,000 after buying an additional 614 shares in the last quarter. HighTower Advisors LLC boosted its stake in Allegion by 7.9% during the first quarter. HighTower Advisors LLC now owns 6,947 shares of the scientific and technical instruments company’s stock worth $759,000 after buying an additional 510 shares during the last quarter. Private Advisor Group LLC grew its holdings in Allegion by 35.2% in the 1st quarter. Private Advisor Group LLC now owns 2,090 shares of the scientific and technical instruments company’s stock valued at $229,000 after buying an additional 544 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Allegion by 88.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,336 shares of the scientific and technical instruments company’s stock worth $366,000 after acquiring an additional 1,564 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Ratings Changes

ALLE has been the topic of several recent research reports. StockNews.com began coverage on shares of Allegion in a research report on Thursday. They set a “hold” rating on the stock. Robert W. Baird increased their price target on shares of Allegion from $126.00 to $132.00 in a research note on Thursday, July 27th. Barclays lifted their price target on shares of Allegion from $120.00 to $130.00 in a research report on Monday, July 10th. Finally, Longbow Research lowered Allegion from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.50.

Read Our Latest Report on Allegion

Allegion Stock Down 1.3 %

Shares of NYSE ALLE opened at $102.73 on Friday. Allegion plc has a 52-week low of $87.33 and a 52-week high of $128.36. The company has a quick ratio of 1.20, a current ratio of 1.93 and a debt-to-equity ratio of 1.79. The business’s 50 day moving average is $108.93 and its two-hundred day moving average is $110.30. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 2.80 and a beta of 1.12.

Allegion (NYSE:ALLE – Get Free Report) last released its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.04. The company had revenue of $912.50 million during the quarter, compared to the consensus estimate of $936.25 million. Allegion had a return on equity of 59.20% and a net margin of 14.27%. Allegion’s revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 EPS. Research analysts predict that Allegion plc will post 6.76 EPS for the current year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were paid a $0.45 dividend. The ex-dividend date was Friday, September 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.75%. Allegion’s dividend payout ratio (DPR) is 30.82%.

Insider Activity

In related news, SVP Jennifer L. Hawes sold 750 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $117.50, for a total transaction of $88,125.00. Following the completion of the transaction, the senior vice president now directly owns 4,488 shares of the company’s stock, valued at approximately $527,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Jennifer L. Hawes sold 750 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $117.50, for a total value of $88,125.00. Following the sale, the senior vice president now owns 4,488 shares of the company’s stock, valued at $527,340. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John H. Stone purchased 17,500 shares of the stock in a transaction on Thursday, July 27th. The shares were purchased at an average price of $116.62 per share, with a total value of $2,040,850.00. Following the acquisition, the chief executive officer now directly owns 94,248 shares in the company, valued at $10,991,201.76. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

Allegion Company Profile

(Free Report)

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.