Allegion plc (NYSE:ALLE), a scientific and technical instruments company, has seen a significant increase in stake by Cambridge Investment Research Advisors Inc. during the second quarter of this year. According to the latest 13F filing with the Securities and Exchange Commission, Cambridge Investment Research Advisors Inc. now owns 34,133 shares of Allegion, representing an impressive boost of 1,552.1%. The firm purchased an additional 32,067 shares during the period, increasing its total holdings in Allegion to a value of $4,097,000 at the end of the reporting period.
This information sheds light on Cambridge Investment Research Advisors Inc.’s confidence in Allegion as an investment opportunity. As experts in securities research and analysis, their decision to significantly increase their stake in Allegion suggests that they have conducted thorough due diligence and have identified compelling prospects for growth within the company.
In relation to Allegion’s financial performance, it is worth noting that they recently reported their quarterly earnings for July 2023. The company exceeded market expectations by posting $1.76 earnings per share (EPS) for the quarter. This figure surpassed the consensus estimate of $1.72 by $0.04 per share. Additionally, Allegion’s revenue for the quarter stood at $912.50 million, slightly below market consensus estimates of $936.25 million.
The positive EPS report indicates that Allegion has managed to maintain strong profitability during a challenging economic climate. It is noteworthy that they achieved a return on equity of 59.20% and a net margin of 14.27%, reflecting the company’s efficiency in generating profit from its investments and operations.
Furthermore, when compared to the same period in the previous year, Allegion showcased robust revenue growth of 18.0%. This demonstrates that despite any headwinds or challenges faced by competitors within their industry sector or broader economic conditions within relevant markets, Allegion has successfully managed to increase its top-line revenues.
Attention should also be drawn towards analysts’ forecasts for Allegion. These equities research analysts predict that the company will post 6.76 EPS for the entirety of this year. Although these figures are subject to change as market conditions fluctuate, having a forecasted EPS provides investors with insight into potential earnings growth and profitability moving forward.
In conclusion, Cambridge Investment Research Advisors Inc.’s significant increase in their stake in Allegion implies a high level of confidence in the company’s future performance and growth prospects. Meanwhile, Allegion’s latest earnings report highlights positive financial indicators, characterized by beating market expectations on EPS and delivering solid revenue growth year-over-year. As with any investment decision, it is important for individuals to conduct their own research and analysis before making any investment choices.
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Allegion plc Witness Changes in Stakeholding Structure and Receives Varied Analyst Ratings
September 27, 2023 – Allegion plc (NYSE: ALLE), a scientific and technical instruments company, has recently witnessed changes in its stakeholding structure as several large investors have either increased or decreased their positions in the company. Compass Wealth Management LLC acquired a new stake valued at $25,000 during the fourth quarter of last year, while Ameritas Advisory Services LLC acquired a new stake worth $27,000 during the first quarter of this year.
Another notable investor, First Horizon Advisors Inc., grew its stake in Allegion by 55.0% during the fourth quarter, now owning 296 shares valued at $31,000 after acquiring an additional 105 shares in the last quarter. Signaturefd LLC also saw an increase in its stake by 134.1% during the first quarter to now own 309 shares worth $33,000 after acquiring an additional 177 shares. Lastly, CVA Family Office LLC grew its stake by 46.2% during the second quarter and currently owns 323 shares valued at $39,000 after purchasing an additional 102 shares.
According to data sourced from institutional investors and hedge funds covering Allegion’s stock ownership as of September 27th, approximately 92.21% is held by such entities.
The investment community has taken notice of these developments and brokerages have provided their opinions on Allegion’s performance. Longbow Research downgraded Allegion from a “buy” rating to a “neutral” rating on September 6th, presenting a shift in their perspective. Barclays, on the other hand, raised their price target for Allegion from $120.00 to $130.00 on July 10th.
In contrast to these varied viewpoints within the investment community about Allegion’s future prospects is StockNews.com’s coverage initiating at “hold” rating for the company on August 17th. Furthermore, Robert W. Baird lifted their price target from $126.00 to $132.00 on July 27th, expressing their confidence in the firm’s potential.
Analysts have given Allegion an average target price of $123.50 and a consensus rating of “Moderate Buy,” highlighting the uncertainty surrounding the stock’s trajectory.
In other news, Allegion made headlines when CEO John H. Stone purchased 17,500 shares of the company’s stock at an average price of $116.62 per share on July 27th. The total value of this transaction was reported as $2,040,850.00. Following this acquisition, Stone now owns 94,248 shares in Allegion directly, with a market value of approximately $10,991,201.76.
Drawing attention to executive activities within the company further is Senior Vice President Jennifer L. Hawes’ sale of 750 shares at an average price of $117.50 per share on July 31st. This transaction amounted to a total value of $88,125.00.
Allegion’s stock opened at $102.09 on September 27th and has exhibited a current ratio of 1.93 and a quick ratio of 1.20 as indicators of its liquidity position. The company presents with a debt-to-equity ratio of 1.79 and has shown a 12-month low at $87.33 and a high at $128.36.
As Allegion continues to navigate market uncertainties and receives varied ratings from analysts in the investment community, investors await future developments to gain more clarity regarding the trajectory and performance prospects for this scientific and technical instruments company.
DISCLAIMER: The information provided in this article should not be considered financial advice or recommendations to buy or sell stocks mentioned herein but rather educational content for informational purposes only
