Allegion plc SVP Sells $1,164,432 in Stock

On October 25th, Robert C. Martens, the Senior Vice President of Allegion plc (NYSE:ALLE), sold 8,035 shares of the company's stock in a transaction valued at $1,164,432.20. The shares were sold at an average price of $144.92 each. After this sale, Mr. Martens holds 7,104 shares, which are now worth approximately $1,029,511.68. This transaction resulted in a 0.00% decrease in his ownership of the stock. Details of the transaction were disclosed in a filing with the SEC.

Recent Stock Performance

In recent trading, Allegion shares decreased by $2.55, closing at $139.78. The trading volume was 1,278,528 shares, exceeding the average volume of 715,997. The company's current share prices are compared against their 50-day moving average of $142.53 and a 200-day moving average of $130.25. Allegion's shares hit a 52-week low of $95.97 and a high of $156.10 during this period. The company boasts a market capitalization of $12.22 billion and has a price-to-earnings ratio of 22.85.

Quarterly Earnings Results

Allegion recently announced its quarterly earnings on October 24th. The company reported earnings per share (EPS) of $2.16, exceeding analysts' expectations of $1.98 by $0.18. With a net margin of 15.08% and a robust return on equity of 47.21%, Allegion also achieved revenue of $967.10 million, which was slightly below the anticipated $970.70 million. This revenue reflects a 5.4% increase compared to the same quarter last year.

Dividend Update

Allegion has declared a quarterly dividend of $0.48, which was paid on September 30th to shareholders on record as of September 20th. This sets the annualized dividend at $1.92, providing a yield of 1.37%. The company's current dividend payout ratio stands at 31.32%.

Analyst Ratings and Price Targets

Recent reports from analysts show varied outlooks for Allegion. Wells Fargo increased their price target from $137.00 to $152.00 while maintaining an 'equal weight' rating. Barclays raised their price target slightly to $137.00 but gave an 'underweight' rating. Robert W. Baird and Mizuho also raised their price targets, emphasizing a neutral stance on the stock. In total, there is one sell rating, four hold ratings, and one buy rating. The average target price for Allegion shares is currently $144.60.

Institutional Investor Activity

Institutional investors have been active regarding Allegion shares. Stephens Inc. AR and AustralianSuper Pty Ltd have added new shares during the third quarter. Meanwhile, abrdn plc increased its holdings by 2.7%, now owning 197,817 shares. Currently, institutional investors hold 92.21% of Allegion's stock.

Overview of Allegion plc

Allegion plc specializes in manufacturing and selling both mechanical and electronic security solutions globally. Their offerings include door systems, locks, key systems, access control solutions, and workforce productivity systems.

Allegion, Stock, Sale