Interval Partners LP Makes New Investment in Allegion PLC $ALLE

Key Points

• Interval Partners LP has invested approximately $14 million in Allegion PLC by acquiring 107,294 shares, representing about 0.12% of the company.
• Allegion reported earnings of $2.04 per share for the last quarter, exceeding expectations, and has set a fiscal year 2025 EPS guidance of 8.000-8.150.
• The company has declared a quarterly dividend of $0.51 per share, with stockholders to receive this payment on September 30th, reflecting an annualized yield of 1.2%.

Interval Partners LP purchased a new stake in Allegion PLC (NYSE:ALLE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 107,294 shares of the scientific and technical instruments company's stock, valued at approximately $13,998,000. Interval Partners LP owned 0.12% of Allegion as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ALLE. AQR Capital Management LLC raised its position in shares of Allegion by 380.0% in the first quarter. AQR Capital Management LLC now owns 1,118,960 shares of the scientific and technical instruments company's stock valued at $142,707,000 after purchasing an additional 885,857 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Allegion by 22.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company's stock valued at $623,104,000 after purchasing an additional 878,796 shares during the period. Nuveen LLC bought a new stake in shares of Allegion in the first quarter valued at approximately $40,240,000. Squarepoint Ops LLC raised its position in shares of Allegion by 11,506.8% in the fourth quarter. Squarepoint Ops LLC now owns 272,295 shares of the scientific and technical instruments company's stock valued at $35,584,000 after purchasing an additional 269,949 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Allegion by 19.2% in the fourth quarter. Deutsche Bank AG now owns 1,641,810 shares of the scientific and technical instruments company's stock valued at $214,552,000 after purchasing an additional 264,379 shares during the period. Institutional investors own 92.21% of the company's stock.

Allegion Price Performance

ALLE stock traded up $1.37 during midday trading on Wednesday, reaching $171.34. The company had a trading volume of 192,235 shares, compared to its average volume of 958,705. 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 PLC has a 1 year low of $116.57 and a 1 year high of $173.25. The company has a market capitalization of $14.71 billion, a P/E ratio of 23.82, a P/E/G ratio of 3.72 and a beta of 1.07. The firm has a 50-day moving average price of $161.97 and a 200-day moving average price of $143.75.

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

Allegion Announces Dividend

The firm also recently declared 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. This represents a $2.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, September 15th. Allegion's dividend payout ratio (DPR) is presently 28.33%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ALLE shares. Robert W. Baird boosted their price target on shares of Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Barclays raised shares of Allegion from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $156.00 to $163.00 in a report on Thursday, August 14th. JPMorgan Chase & Co. began coverage on shares of Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price on the stock. Zacks Research lowered shares of Allegion from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Finally, Mizuho upped their target price on shares of Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $166.75.

Insider Activity

In related news, SVP Tracy L. Kemp sold 3,849 shares of the 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president owned 30,023 shares of the company's stock, 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 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.