Allegion PLC $ALLE Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC sold 7,269 shares of Allegion PLC, reducing its stake by 21.1%, leaving it with 27,242 shares valued at approximately $3.55 million.
• Allegion reported a quarterly earnings per share (EPS) of $2.04, exceeding expectations, along with a revenue of $1.02 billion, a 5.8% increase compared to the previous year.
• The company announced a quarterly dividend of $0.51, reflecting an annualized yield of **1.1%**, with a payout ratio of 28.33%.

Voya Investment Management LLC reduced its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,242 shares of the scientific and technical instruments company's stock after selling 7,269 shares during the period. Voya Investment Management LLC's holdings in Allegion were worth $3,554,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. boosted its holdings in Allegion by 1.8% in the first quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company's stock worth $545,000 after purchasing an additional 73 shares during the period. Whittier Trust Co. raised its stake in Allegion by 16.6% during the first quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company's stock worth $75,000 after acquiring an additional 82 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in Allegion by 2.4% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company's stock worth $469,000 after acquiring an additional 83 shares during the period. DMC Group LLC raised its stake in Allegion by 2.2% during the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company's stock worth $516,000 after acquiring an additional 85 shares during the period. Finally, Ethic Inc. grew its holdings in shares of Allegion by 1.2% during the first quarter. Ethic Inc. now owns 7,514 shares of the scientific and technical instruments company's stock valued at $984,000 after purchasing an additional 87 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Price Performance

Shares of NYSE:ALLE opened at $179.39 on Friday. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $180.34. The business has a 50-day moving average of $166.36 and a two-hundred day moving average of $146.32. The stock has a market capitalization of $15.40 billion, a P/E ratio of 24.92, a P/E/G ratio of 3.84 and a beta of 1.07. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64.

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

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.1%. Allegion's dividend payout ratio (DPR) is currently 28.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ALLE shares. Morgan Stanley raised their target price on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Mizuho increased 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. Zacks Research cut shares of Allegion from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. Wells Fargo & Company boosted their price objective on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group boosted their price objective on Allegion from $176.00 to $198.00 and gave the stock a "buy" rating in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $170.25.

Insider Buying and Selling

In related news, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the completion of the transaction, the senior vice president directly owned 8,773 shares in the company, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion 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 directly owned 30,023 shares of the company's stock, valued at $4,946,589.48. This represents a 26.47% 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 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.

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