Allegion plc Executive Stock Sale

On October 25th, Robert C. Martens, the Senior Vice President of Allegion plc (NYSE:ALLE), sold 8,035 shares of the company's stock. This transaction occurred at an average price of $144.92 per share, resulting in a total sale value of $1,164,432.20. After this sale, Martens holds 7,104 shares, which are currently valued at about $1,029,511.68. Importantly, this transaction reflected a 0.00% decrease in his ownership stake in Allegion. The details of the sale were reported in a filing made with the SEC, which can be accessed here.

Stock Performance

Following the sale, shares of NYSE:ALLE experienced a decline, closing down by 1.8%, dropping $2.55 to a price of $139.78. In trading recently, a total of 1,278,528 shares exchanged hands, compared to the average volume of 715,997 shares. Allegion’s stocks have a 50-day moving average of $142.53 and a 200-day moving average of $130.25. The company’s shares vary widely over the past year, with a low of $95.97 and a high of $156.10. The financial health indicators include a current ratio of 1.66, a quick ratio of 1.23, and a debt-to-equity ratio of 1.40, with a market capitalization of $12.22 billion. The price-to-earnings ratio stands at 22.85, and the price-to-earnings-growth ratio is noted as 4.50, with a beta of 1.12.

Recent Earnings Report

Allegion recently released its quarterly earnings on October 24th, reporting an earnings per share (EPS) of $2.16. This was ahead of analysts' predictions which estimated an EPS of $1.98. The company's net margin was recorded at 15.08%, while the return on equity reached 47.21%. Allegion’s revenue for the quarter was reported at $967.10 million, slightly below the anticipated $970.70 million. Compared to last year, the revenue showed a year-over-year increase of 5.4%. Current estimates suggest that Allegion plc is on track to achieve an EPS of 7.26 for the current fiscal year.

Dividend Information

In addition to the stock sale, Allegion also declared a quarterly dividend, which was executed on September 30th. Shareholders who were on record as of September 20th received a dividend payment of $0.48 per share. The ex-dividend date was also September 20th. Annually, the dividend totals $1.92, resulting in a yield of 1.37%. The company maintains a dividend payout ratio of 31.32%.

Analyst Opinions

Analysts have recently adjusted their ratings on Allegion. Wells Fargo & Company raised their target price for the stock from $137.00 to $152.00, rating it as “equal weight” on October 7th. Meanwhile, Barclays increased their target from $135.00 to $137.00 and assigned an “underweight” rating. Robert W. Baird and Mizuho also lifted their price targets to $152.00 and $150.00, respectively, with both maintaining a “neutral” stance. Currently, one analyst rates the stock as a sell, four as a hold, and one as a buy. The consensus rating for Allegion is “Hold,” with an average target price set at $144.60.

Institutional Investments

Institutional investors have made notable moves in Allegion’s stock recently. Stephens Inc. AR initiated a new position worth about $225,000 during the third quarter, while AustralianSuper Pty Ltd acquired a stake valued at $494,000. abrdn plc raised its ownership by 2.7% to hold 197,817 shares, now valued at approximately $28,855,000. Various other firms, including Pallas Capital Advisors LLC and Concord Wealth Partners, also bought new stakes in Allegion stock. Currently, institutional investors hold 92.21% of the total shares.

About Allegion

Allegion plc specializes in manufacturing and distributing mechanical and electronic security products worldwide. Their product portfolio includes advanced door controls, locking systems, and electronic security solutions, making them a significant player in the security sector.

Allegion, Stock, Sale