Acadian Asset Management LLC Lowers Stake in Allegion PLC $ALLE

Key Points

• Acadian Asset Management LLC has reduced its stake in Allegion PLC by 33.0%, selling 78,711 shares and now owning approximately 0.19% of the company.
• Allegion recently reported earnings of $2.04 EPS, exceeding analysts' expectations of $2.00, with a revenue increase of 5.8% year-over-year to $1.02 billion.
• The company announced a quarterly dividend of $0.51 per share, providing a 1.1% dividend yield and a payout ratio of 28.33%.

Acadian Asset Management LLC trimmed its position in Allegion PLC (NYSE:ALLE - Free Report) by 33.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,923 shares of the scientific and technical instruments company's stock after selling 78,711 shares during the period. Acadian Asset Management LLC owned 0.19% of Allegion worth $20,855,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ALLE. Ameriprise Financial Inc. boosted its holdings in Allegion by 79.9% in the 4th quarter. Ameriprise Financial Inc. now owns 135,605 shares of the scientific and technical instruments company's stock valued at $17,729,000 after purchasing an additional 60,223 shares during the period. Captrust Financial Advisors boosted its holdings in Allegion by 65.5% in the 4th quarter. Captrust Financial Advisors now owns 5,861 shares of the scientific and technical instruments company's stock valued at $766,000 after purchasing an additional 2,320 shares during the period. Cetera Investment Advisers boosted its holdings in Allegion by 12.9% in the 4th quarter. Cetera Investment Advisers now owns 24,797 shares of the scientific and technical instruments company's stock valued at $3,241,000 after purchasing an additional 2,841 shares during the period. Focus Partners Wealth bought a new position in Allegion in the 4th quarter valued at $308,000. Finally, Gotham Asset Management LLC boosted its holdings in Allegion by 714.6% in the 4th quarter. Gotham Asset Management LLC now owns 15,494 shares of the scientific and technical instruments company's stock valued at $2,025,000 after purchasing an additional 13,592 shares during the period. 92.21% of the stock is owned by institutional investors.

Allegion Trading Up 0.8%

Allegion stock traded up $1.38 during mid-day trading on Tuesday, hitting $177.58. The company's stock had a trading volume of 376,228 shares, compared to its average volume of 959,831. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 3.76 and a beta of 1.07. The business has a 50 day moving average price of $164.11 and a 200-day moving average price of $145.14. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $177.75.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, analysts forecast that Allegion PLC will post 7.77 EPS for the current year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 1.1%. Allegion's dividend payout ratio (DPR) is presently 28.33%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALLE shares. Wells Fargo & Company raised their price target on shares of Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Zacks Research downgraded shares of Allegion from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Barclays raised shares of Allegion from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $156.00 to $163.00 in a report on Thursday, August 14th. Mizuho lifted their price objective on shares of Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Robert W. Baird lifted their price objective on shares of Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $170.25.

Insider Activity

In related news, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction of $634,777.08. Following the transaction, the senior vice president owned 8,773 shares in the company, valued at $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the transaction, the senior vice president owned 30,023 shares in the company, valued at $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.