Robeco Institutional Asset Management B.V. Increases Position in Allegion PLC $ALLE

Key Points

• Robeco Institutional Asset Management B.V. significantly increased its stake in Allegion PLC by 390.9% during Q2, acquiring an additional 472,435 shares, totaling 593,298 shares worth approximately $85 million.
• Allegion reported Q2 earnings of $2.04 per share, exceeding the consensus estimate of $2.00, with a year-over-year revenue growth of 5.8% to $1.02 billion.
• The firm declared a quarterly dividend of $0.51, translating to an annualized dividend of $2.04 and a yield of 1.2% as of September 30th.

Robeco Institutional Asset Management B.V. grew its stake in Allegion PLC (NYSE:ALLE - Free Report) by 390.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 593,298 shares of the scientific and technical instruments company's stock after acquiring an additional 472,435 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.69% of Allegion worth $85,506,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC purchased a new position in shares of Allegion in the 2nd quarter valued at $32,000. Wayfinding Financial LLC purchased a new position in shares of Allegion in the 1st quarter valued at $30,000. Garde Capital Inc. acquired a new stake in shares of Allegion in the 1st quarter worth $36,000. Cary Street Partners Investment Advisory LLC boosted its position in shares of Allegion by 91.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company's stock worth $39,000 after purchasing an additional 143 shares in the last quarter. Finally, National Pension Service boosted its position in shares of Allegion by 75.0% in the 1st quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company's stock worth $42,000 after purchasing an additional 138 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction dated Friday, July 25th. The stock was 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 owned 8,773 shares in the company, valued at $1,446,843.16. The trade was a 30.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion 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 transaction, the senior vice president owned 30,023 shares of the company's stock, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Allegion Stock Performance

Shares of ALLE stock opened at $177.35 on Friday. The stock has a market cap of $15.23 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 3.80 and a beta of 1.07. The business has a 50-day simple moving average of $170.72 and a 200-day simple moving average of $149.34. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. Allegion PLC has a 52-week low of $116.57 and a 52-week high of $180.34.

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

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, September 15th. Allegion's payout ratio is currently 28.33%.

Analyst Upgrades and Downgrades

ALLE has been the subject of a number of recent analyst reports. Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. Mizuho raised their price objective on Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Morgan Stanley raised their price objective on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Robert W. Baird raised their price objective on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company raised their price objective on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Allegion presently has an average rating of "Hold" and a consensus price target of $173.00.

Allegion Company 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.

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