Venturi Wealth Management LLC Trims Stake in Allegion PLC $ALLE

Venturi Wealth Management LLC lowered its position in Allegion PLC (NYSE:ALLE) by 17.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,171 shares of the scientific and technical instruments company’s stock after selling 675 shares during the quarter. Venturi Wealth Management LLC’s holdings in Allegion were worth $457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. DMC Group LLC raised its stake in shares of Allegion by 2.9% in the second quarter. DMC Group LLC now owns 4,066 shares of the scientific and technical instruments company’s stock valued at $586,000 after acquiring an additional 113 shares during the period. KLP Kapitalforvaltning AS raised its stake in shares of Allegion by 1.9% in the second quarter. KLP Kapitalforvaltning AS now owns 43,800 shares of the scientific and technical instruments company’s stock valued at $6,312,000 after acquiring an additional 800 shares during the period. Avantra Family Wealth Inc. purchased a new stake in shares of Allegion in the second quarter valued at $263,000. Regency Capital Management Inc. DE purchased a new stake in shares of Allegion in the second quarter valued at $2,473,000. Finally, DAVENPORT & Co LLC raised its stake in shares of Allegion by 11.6% in the second quarter. DAVENPORT & Co LLC now owns 5,500 shares of the scientific and technical instruments company’s stock valued at $793,000 after acquiring an additional 572 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Allegion in a research note on Wednesday. JPMorgan Chase & Co. initiated coverage on shares of Allegion in a report on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 price target on the stock. Barclays upped their price target on shares of Allegion from $163.00 to $185.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Wells Fargo & Company upped their price target on shares of Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Bank of America upgraded shares of Allegion from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $110.00 to $175.00 in a report on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $174.25.

Insider Activity

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the transaction, the senior vice president directly owned 30,023 shares in the company, valued at $4,946,589.48. This represents a 26.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction of $634,777.08. Following the sale, the senior vice president directly owned 8,773 shares of the company’s stock, valued at approximately $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Allegion Stock Down 1.6%

Shares of Allegion stock opened at $175.39 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $180.34. The firm’s 50-day moving average is $171.96 and its two-hundred day moving average is $151.02. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 3.83 and a beta of 1.07.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.04. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $999.10 million. During the same period in the prior year, the business earned $1.96 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, research analysts expect that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, September 15th. Allegion’s dividend payout ratio is presently 28.33%.

About Allegion

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.