NFJ Investment Group LLC Increases Stock Holdings in Allegion PLC $ALLE

Key Points

• NFJ Investment Group LLC increased its position in Allegion PLC by 50%, acquiring a total of 203,951 shares valued at approximately $26.6 million.
• Allegion's quarterly earnings surpassed expectations, reporting an EPS of $2.04, beating the consensus estimate of $2.00, and reflecting a 5.8% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.51 per share, resulting in a 1.2% dividend yield for shareholders.

NFJ Investment Group LLC increased its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 50.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 203,951 shares of the scientific and technical instruments company's stock after buying an additional 67,958 shares during the quarter. NFJ Investment Group LLC owned about 0.24% of Allegion worth $26,608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Allegion by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company's stock valued at $1,404,672,000 after acquiring an additional 48,615 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in 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 worth $623,104,000 after purchasing an additional 878,796 shares during the last quarter. Boston Partners grew its position in Allegion by 0.8% in the 1st quarter. Boston Partners now owns 4,752,391 shares of the scientific and technical instruments company's stock worth $619,700,000 after purchasing an additional 35,635 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Allegion by 6.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,147,110 shares of the scientific and technical instruments company's stock valued at $280,112,000 after buying an additional 136,638 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in Allegion by 13.2% during the 1st quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock valued at $279,379,000 after buying an additional 249,295 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Insider Transactions at Allegion

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the firm's stock in a transaction dated 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 sale, the senior vice president owned 30,023 shares of the company's stock, valued at $4,946,589.48. This trade represents a 26.47% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 on Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the transaction, the senior vice president owned 8,773 shares of the company's stock, valued at approximately $1,446,843.16. The trade was a 30.49% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Allegion Price Performance

Allegion stock traded up $0.58 during mid-day trading on Wednesday, hitting $170.55. The stock had a trading volume of 211,924 shares, compared to its average volume of 958,822. Allegion PLC has a one year low of $116.57 and a one year high of $173.25. 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 $14.64 billion, a P/E ratio of 23.69, a P/E/G ratio of 3.72 and a beta of 1.07. The firm's 50 day moving average is $161.97 and its 200 day moving average is $143.75.

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 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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $999.10 million. During the same quarter in the prior year, the business earned $1.96 earnings per share. Allegion's revenue for the quarter was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, sell-side analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Zacks Research downgraded Allegion from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Robert W. Baird lifted their price target on shares of Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Morgan Stanley upped their price objective on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Barclays raised Allegion from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $156.00 to $163.00 in a report on Thursday, August 14th. Finally, Mizuho boosted their price target on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Allegion presently has a consensus rating of "Hold" and an average price target of $166.75.

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.