Tracy L. Kemp, the Senior Vice President and Chief Information and Digital Officer at Allegion plc (NYSE:ALLE), a $12.26 billion security products manufacturer with a "GOOD" financial health rating according to InvestingPro, has recently sold a portion of her holdings in the company. According to a recent filing, Kemp sold 2,466 ordinary shares on December 2, 2024, at a price of $139.47 per share, resulting in a total transaction value of approximately $343,933. The transaction occurred near the stock's current trading price of $140.49, with InvestingPro analysis indicating the stock is fairly valued. Notable for investors, Allegion has maintained dividend payments for 11 consecutive years, demonstrating consistent shareholder returns.
In addition to the sale, Kemp also exercised stock options to acquire 1,144 ordinary shares at a price of $71.835 per share. Following these transactions, Kemp owns 9,781 shares directly.
These transactions were disclosed in a Form 4 filed with the Securities and Exchange Commission.
In other recent news, Allegion, a provider of security products and solutions, has reported positive financial results. Earnings and revenue results showed a 5.4% increase in revenue, reaching $967.1 million, and a rise in adjusted earnings per share by 11.3% to $2.16 in the third quarter of 2024. Allegion has also completed strategic acquisitions, including SOSS Door Hardware, as part of its growth strategy.
Baird, an independent firm, increased Allegion's stock price target to $152.00 from the previous $145.00, maintaining a neutral rating. This adjustment followed an analysis of Allegion's financial segments and capital management strategies. Despite Allegion's shares underperforming in the market, Baird's analysis found overall trends for Allegion to remain stable, with a positive outlook for the company's future.
These are recent developments that underline Allegion's commitment to its strategic growth and efficiency initiatives. The company anticipates stable demand in 2025, with growth in electronics adoption and ongoing stability in non-residential markets. Looking ahead, Allegion plans to use cash for accretive acquisitions and share repurchases when appropriate, as stated by CEO John Stone.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.