Allianz Asset Management GmbH reduced its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 66.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 114,246 shares of the scientific and technical instruments company's stock after selling 227,532 shares during the period. Allianz Asset Management GmbH owned approximately 0.13% of Allegion worth $16,465,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Allegion by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 740,233 shares of the scientific and technical instruments company's stock worth $96,571,000 after purchasing an additional 4,942 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Allegion by 324.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company's stock worth $5,606,000 after buying an additional 32,842 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of Allegion by 5.6% in the 1st quarter. Atria Wealth Solutions Inc. now owns 2,924 shares of the scientific and technical instruments company's stock worth $381,000 after buying an additional 154 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Allegion by 6.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company's stock worth $15,768,000 after buying an additional 7,645 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Allegion by 10.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 37,648 shares of the scientific and technical instruments company's stock worth $4,912,000 after buying an additional 3,618 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on ALLE shares. JPMorgan Chase & Co. started coverage on shares of Allegion in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price objective on the stock. Barclays boosted their price objective on shares of Allegion from $163.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 1st. Morgan Stanley boosted their price objective on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. The Goldman Sachs Group boosted their price objective on shares of Allegion from $176.00 to $198.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Allegion in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Allegion currently has an average rating of "Hold" and an average target price of $174.25.
Get Our Latest Report on Allegion
Insider Activity
In other news, SVP Timothy P. Eckersley sold 10,810 shares of the 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 in the company, valued at $4,946,589.48. This represents a 26.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction dated Friday, July 25th. The stock was 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 approximately $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company's stock.
Allegion Price Performance
NYSE:ALLE opened at $178.00 on Tuesday. The firm has a market cap of $15.28 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 3.83 and a beta of 1.07. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. The company's 50-day moving average is $173.55 and its two-hundred day moving average is $153.63. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $180.34.
Allegion (NYSE:ALLE - Get Free Report) last released its earnings results 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. 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. Research analysts expect that Allegion PLC will post 7.77 EPS for the current year.
Allegion Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, September 15th. Allegion's dividend payout ratio is presently 28.33%.
About Allegion
(
Free Report)
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.
Further Reading
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