Allegion plc (NYSE:ALLE) executive Tracy L. Kemp, the company's Senior Vice President and Chief Information & Digital Officer, has sold a total of 2,194 ordinary shares at prices ranging from $121.83 to $122.19, according to a recent SEC filing. The transactions, which occurred on May 28, amounted to a total value of $267,629, with the reported weighted average price per share being $121.9823.
This sale has adjusted Kemp's direct holdings in the company to a total of 11,103 ordinary shares following the transaction. The details provided in the filing indicate that the sales were executed in multiple transactions within the specified price range.
Allegion plc, known for its security products and services, including innovative safety and security solutions, has its executive team's trading activities closely watched by investors seeking to understand the strategic moves of the company's leadership.
The company has not released any official statement concerning the reasons behind Kemp's sale of shares. The transactions are a routine disclosure, and executives may sell shares for various reasons ranging from personal financial planning to diversifying their investment portfolio.
Investors and stakeholders in Allegion plc can request full information regarding the specific number of shares sold at each price point as indicated by the footnote in the SEC filing. This data can provide deeper insight into the nature of the transactions.
As of the last trading session, Allegion plc shares were traded on the New York Stock Exchange, with the company continuing to be a significant player in the security products and services industry.
InvestingPro Insights
Allegion plc (NYSE:ALLE) has recently seen its executive team's trading activities come into the spotlight with the sale of shares by Senior Vice President and Chief Information & Digital Officer Tracy L. Kemp. As investors look to understand the implications of such moves, it's helpful to consider the company's financial health and market performance. Allegion's current market capitalization stands at $10.53 billion, reflecting its substantial presence in the security products and services sector.
Investors considering Allegion's stock should note its P/E ratio of 19.56, which, when adjusted for the last twelve months as of Q1 2024, sits at 18.62. This valuation metric suggests that the stock is trading at a premium relative to near-term earnings growth, an important consideration for potential buyers. Additionally, the company's Price / Book ratio for the same period is 7.8, which might be seen as high, indicating that the market currently values the company's assets at a significant multiple.
On the dividends front, Allegion has a commendable track record, having raised its dividend for 10 consecutive years and maintained dividend payments for 11 years. This consistency is a positive sign for income-focused investors, and with a dividend yield as of the most recent data at 1.61%, the company remains an attractive option for those seeking regular income streams.
For investors seeking more in-depth analysis and additional insights, there are further InvestingPro Tips available. For instance, Allegion is noted for operating with a moderate level of debt and for its stock's low price volatility, which may appeal to risk-averse investors. Moreover, analysts predict the company will be profitable this year, with profitability also observed over the last twelve months. Subscribers to InvestingPro can access these tips and more, with a total of 7 additional tips available for Allegion. To delve deeper into these expert insights, be sure to visit https://www.investing.com/pro/ALLE. And don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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