Allegion plc SVP Robert C. Martens Sells $1,164,432.20 in Stock

On October 25th, Robert C. Martens, Senior Vice President of Allegion plc (NYSE:ALLE - Get Free Report), sold 8,035 shares of the company’s stock. The shares were sold at an average price of $144.92, resulting in a total transaction value of $1,164,432.20. After this sale, Martens now owns 7,104 shares of Allegion, which are valued at approximately $1,029,511.68. This sale constitutes a 0.00% decrease in the senior vice president's ownership of company stock. The details of this transaction were disclosed through a legal filing with the SEC, accessible via a hyperlink.

Recent Performance of Allegion Stock

On the trading day following the stock sale, Allegion shares experienced a decrease of 1.8%, closing at $139.78. During this session, a total of 1,278,528 shares were exchanged, which is significantly higher than the average trading volume of 715,997 shares. The company's stock has a 50-day moving average price of $142.53 and a 200-day moving average price of $130.25. Over the past year, Allegion's stock has fluctuated between a low of $95.97 and a high of $156.10. Key financial ratios for the company include a current ratio of 1.66, a quick ratio of 1.23, and a debt-to-equity ratio of 1.40, with a total market capitalization of $12.22 billion. The price-to-earnings ratio currently stands at 22.85.

Quarterly Earnings Results

Allegion plc recently released its quarterly earnings results on October 24th. The company reported earnings of $2.16 per share (EPS) for the quarter, surpassing analysts' expectations of $1.98 by $0.18. Allegion achieved a net margin of 15.08% and a return on equity of 47.21%. The total revenue reported for the quarter was $967.10 million, slightly below the anticipated $970.70 million. In comparison to the same period last year, Allegion saw a year-over-year revenue growth of 5.4%. Analysts project that the company will post an EPS of 7.26 for the current fiscal year.

Dividend Declaration

In addition, Allegion announced a quarterly dividend, which was paid out on September 30th. Shareholders who were on record as of September 20th received a dividend of $0.48. The ex-dividend date for this payout was also September 20th. This reflects an annualized dividend of $1.92, offering a yield of 1.37%. Currently, Allegion's dividend payout ratio (DPR) stands at 31.32%.

Analyst Ratings Updates

Recent reports from various equity research analysts have updated their evaluations of Allegion stock. Wells Fargo & Company raised their price target for Allegion from $137.00 to $152.00, maintaining an "equal weight" rating. Barclays adjusted their target price from $135.00 to $137.00 with an "underweight" rating. Robert W. Baird increased its target from $145.00 to $152.00, giving the stock a "neutral" rating. Mizuho also lifted their price goal from $135.00 to $150.00 while maintaining a "neutral" stance. Furthermore, StockNews.com changed their recommendation from a "hold" to a "buy" rating. Overall, one analyst rates the stock as a sell, four maintain a hold position, and one gives it a buy rating, with MarketBeat.com showing an average rating of "Hold" and a consensus target price of $144.60.

Institutional Ownership Trends

In recent trading activity, institutional investors have been adjusting their stakes in Allegion. Stephens Inc. AR established a new position in the company during the third quarter, valued at around $225,000. AustralianSuper Pty Ltd also acquired an additional stake worth approximately $494,000. During this same period, abrdn plc raised its stake by 2.7%, now holding 197,817 shares worth $28,855,000 after adding 5,287 new shares. Pallas Capital Advisors LLC and Concord Wealth Partners also announced new investments, valued at $620,000 and $29,000 respectively. Overall, institutional investors currently own 92.21% of Allegion’s stock.

About Allegion

Allegion plc specializes in manufacturing and selling mechanical and electronic security products and solutions on a global scale. Their product range includes door controls, exit devices, locks, locksets, electronic security products, access control systems, and workforce productivity systems.

Allegion, Martens, Stock