Allegion PLC $ALLE Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC reduced its stake in Allegion PLC by 7.8%, owning 80,150 shares after selling 6,804 shares, valued at approximately $10.46 million.
• Multiple institutional investors, including Ameriprise Financial Inc. (up 79.9%) and Baird Financial Group Inc. (up 3.7%), increased their positions in Allegion during the 4th quarter, contributing to 92.21% institutional ownership.
• Allegion recently declared a quarterly dividend of $0.51 per share, representing a 1.2% yield, with the dividend set to be paid on September 30th.

Intech Investment Management LLC reduced its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,150 shares of the scientific and technical instruments company's stock after selling 6,804 shares during the period. Intech Investment Management LLC owned about 0.09% of Allegion worth $10,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ALLE. Ameriprise Financial Inc. raised its position in shares of Allegion by 79.9% during 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 acquiring an additional 60,223 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Allegion by 3.7% during the 4th quarter. Baird Financial Group Inc. now owns 8,315 shares of the scientific and technical instruments company's stock valued at $1,087,000 after acquiring an additional 293 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Allegion by 65.5% during 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 acquiring an additional 2,320 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Allegion by 12.9% during 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 acquiring an additional 2,841 shares in the last quarter. Finally, Ethic Inc. raised its position in shares of Allegion by 7.1% during the 4th quarter. Ethic Inc. now owns 7,427 shares of the scientific and technical instruments company's stock valued at $971,000 after acquiring an additional 495 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALLE has been the topic of several research reports. The Goldman Sachs Group upped their price target on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Morgan Stanley upped their price target on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Barclays raised Allegion from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $156.00 to $163.00 in a research report on Thursday, August 14th. Mizuho increased their target price on Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Zacks Research lowered Allegion from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Allegion presently has an average rating of "Hold" and an average target price of $166.75.

Allegion Price Performance

Shares of NYSE ALLE opened at $170.48 on Thursday. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $173.25. 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 business's fifty day moving average price is $162.42 and its two-hundred day moving average price is $143.93. The firm has a market capitalization of $14.64 billion, a PE ratio of 23.68, a P/E/G ratio of 3.65 and a beta of 1.07.

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

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, September 15th. Allegion's dividend payout ratio (DPR) is 28.33%.

Insiders Place Their Bets

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

Allegion 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.

Want to see what other hedge funds are holding ALLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegion PLC (NYSE:ALLE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.