MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Cuts Holdings in Allegion PLC $ALLE

Key Points

• MEAG Munich Ergo cut its holdings in Allegion PLC by 52.3%, reducing its shares from 20,111 to 9,590, with holdings now valued at approximately $1.38 million.
• Allegion reported earnings of $2.04 per share, exceeding analyst expectations, with revenue totaling $1.02 billion for the quarter, marking a 5.8% increase year-over-year.
• The company declared a quarterly dividend of $0.51 per share, with a dividend yield of 1.2%, scheduled for payment on September 30th.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 52.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,590 shares of the scientific and technical instruments company's stock after selling 10,521 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Allegion were worth $1,382,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new position in Allegion during the first quarter worth about $30,000. Garde Capital Inc. bought a new stake in Allegion in the first quarter worth about $36,000. Cary Street Partners Investment Advisory LLC raised its position in Allegion by 91.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company's stock worth $39,000 after acquiring an additional 143 shares during the period. National Pension Service raised its position in Allegion by 75.0% in the first quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company's stock worth $42,000 after acquiring an additional 138 shares during the period. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Allegion in the first quarter valued at approximately $44,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Performance

Allegion stock opened at $172.92 on Friday. The firm's 50 day simple moving average is $168.56 and its 200 day simple moving average is $147.60. 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 firm has a market capitalization of $14.84 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 3.77 and a beta of 1.07. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $180.34.

Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.04. The business 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%. Allegion's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, analysts expect that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

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

Insider Buying and Selling

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value 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 $4,946,589.48. The trade was a 26.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $164.92, for a total transaction of $634,777.08. Following the completion of the transaction, 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 disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on ALLE. Wells Fargo & Company boosted their price target on shares of Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Bank of America raised shares of Allegion from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Morgan Stanley boosted their price target on shares of Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Zacks Research lowered shares of Allegion from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. Finally, Barclays raised shares of Allegion from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $156.00 to $163.00 in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $170.25.

About Allegion

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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