Exchange Traded Concepts LLC Has $159,000 Stock Position in Allegion plc (NYSE:ALLE)

Posted by Defense World Staff on Oct 10th, 2023

Exchange Traded Concepts LLC lowered its holdings in shares of Allegion plc (NYSE:ALLE – Free Report) by 15.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,325 shares of the scientific and technical instruments company’s stock after selling 235 shares during the period. Exchange Traded Concepts LLC’s holdings in Allegion were worth $159,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. boosted its stake in Allegion by 8.8% during the first quarter. Nomura Asset Management Co. Ltd. now owns 22,822 shares of the scientific and technical instruments company’s stock worth $2,436,000 after acquiring an additional 1,839 shares in the last quarter. Prelude Capital Management LLC acquired a new position in Allegion during the 1st quarter worth approximately $258,000. First Hawaiian Bank acquired a new position in Allegion during the 2nd quarter worth approximately $206,000. HM Payson & Co. raised its stake in Allegion by 27.9% during the 1st quarter. HM Payson & Co. now owns 1,988 shares of the scientific and technical instruments company’s stock worth $212,000 after buying an additional 434 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Allegion by 8.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 178,335 shares of the scientific and technical instruments company’s stock worth $19,034,000 after buying an additional 14,528 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Robert W. Baird upped their price target on Allegion from $126.00 to $132.00 in a research note on Thursday, July 27th. Longbow Research lowered shares of Allegion from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 6th. Wells Fargo & Company decreased their price target on shares of Allegion from $130.00 to $120.00 in a research note on Monday. Barclays lifted their price target on Allegion from $120.00 to $130.00 in a research note on Monday, July 10th. Finally, StockNews.com initiated coverage on Allegion in a research note on Thursday, October 5th. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Allegion currently has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Check Out Our Latest Stock Report on ALLE

Insider Transactions at Allegion

In other news, SVP Jennifer L. Hawes sold 750 shares of Allegion 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 sale, the senior vice president now directly owns 4,488 shares in the company, valued at approximately $527,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO John H. Stone acquired 17,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was bought 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 owns 94,248 shares in the company, valued at approximately $10,991,201.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jennifer L. Hawes sold 750 shares of Allegion stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $117.50, for a total value of $88,125.00. Following the completion of the sale, the senior vice president now directly owns 4,488 shares of the company’s stock, valued at approximately $527,340. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Allegion Stock Performance

ALLE stock opened at $104.45 on Tuesday. 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 firm has a market cap of $9.17 billion, a PE ratio of 17.89, a P/E/G ratio of 2.82 and a beta of 1.12. The business has a 50 day moving average of $108.20 and a 200-day moving average of $110.31. Allegion plc has a 12-month low of $87.33 and a 12-month high of $128.36.

Allegion (NYSE:ALLE – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The scientific and technical instruments company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.04. Allegion had a return on equity of 59.20% and a net margin of 14.27%. The business had revenue of $912.50 million for the quarter, compared to analysts’ expectations of $936.25 million. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The business’s revenue was up 18.0% on a year-over-year basis. As a group, sell-side analysts expect that Allegion plc will post 6.76 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Friday, September 15th. Allegion’s payout ratio is 30.82%.

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.