Amundi Sells 35,553 Shares of Allegion PLC $ALLE

Key Points

• Amundi reduced its stake in Allegion PLC by 7.3% in the first quarter, now owning 451,107 shares valued at approximately $57.39 million.
• Allegion's recent earnings report showed $2.04 earnings per share (EPS), beating estimates, with a revenue of $1.02 billion for the quarter, reflecting a year-on-year increase of 5.8%.
• The company announced a quarterly dividend of $0.51, representing an annualized dividend yield of 1.2%, with an upcoming ex-dividend date of September 15th.

Amundi cut its stake in Allegion PLC (NYSE:ALLE - Free Report) by 7.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 451,107 shares of the scientific and technical instruments company's stock after selling 35,553 shares during the period. Amundi owned approximately 0.52% of Allegion worth $57,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Allegion by 0.7% in 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 during the period. Wealth Enhancement Advisory Services LLC boosted its stake in 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 purchasing an additional 32,842 shares during the period. Atria Wealth Solutions Inc. boosted its stake in 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 purchasing an additional 154 shares during the period. Merit Financial Group LLC boosted its stake in Allegion by 284.1% in the 1st quarter. Merit Financial Group LLC now owns 8,285 shares of the scientific and technical instruments company's stock worth $1,081,000 after purchasing an additional 6,128 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in 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 purchasing an additional 7,645 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALLE. Bank of America raised shares of Allegion from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. The Goldman Sachs Group increased their price objective on shares of Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company increased their price objective on shares of Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Barclays upgraded shares of Allegion from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $156.00 to $163.00 in a research note on Thursday, August 14th. Finally, Zacks Research downgraded shares of Allegion from a "strong-buy" rating to a "hold" rating in a research note 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $166.75.

Allegion Stock Performance

Shares of ALLE stock traded down $2.44 on Friday, reaching $174.74. The stock had a trading volume of 1,100,181 shares, compared to its average volume of 693,692. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. The firm's 50-day moving average is $163.55 and its two-hundred day moving average is $144.58. The firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 3.81 and a beta of 1.07. 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 issued 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 analysts' expectations 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, research analysts expect that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. 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 is presently 28.33%.

Insider Transactions at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the sale, the senior vice president directly owned 8,773 shares of the company's stock, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the company'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 completion of the sale, the senior vice president directly owned 30,023 shares in the company, valued at approximately $4,946,589.48. The trade was 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 corporate 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.