Swedbank AB Raises Stock Holdings in Allegion PLC $ALLE

Swedbank AB lifted its holdings in shares of Allegion PLC (NYSE:ALLE - Free Report) by 6.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,580 shares of the scientific and technical instruments company's stock after acquiring an additional 4,840 shares during the quarter. Swedbank AB owned 0.09% of Allegion worth $11,037,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wayfinding Financial LLC bought a new position in Allegion during the first quarter valued at $30,000. Garde Capital Inc. bought a new position in Allegion during the first quarter valued at $36,000. Cary Street Partners Investment Advisory LLC grew its holdings in Allegion by 91.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company's stock valued at $39,000 after purchasing an additional 143 shares during the period. National Pension Service grew its holdings in Allegion by 75.0% during the first quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company's stock valued at $42,000 after purchasing an additional 138 shares during the period. Finally, Zions Bancorporation National Association UT bought a new position in Allegion during the first quarter valued at $44,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Trading Up 0.3%

NYSE ALLE opened at $179.39 on Monday. The stock's 50-day simple moving average is $166.36 and its two-hundred day simple moving average is $146.59. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $180.34. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $15.40 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 3.85 and a beta of 1.07.

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 earnings per share for the quarter, beating analysts' consensus estimates of $2.00 by $0.04. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. During the same quarter last year, the business posted $1.96 earnings per share. The company'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. Research analysts forecast that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 1.1%. Allegion's payout ratio is currently 28.33%.

Analyst Upgrades and Downgrades

ALLE has been the subject of several research reports. Wells Fargo & Company increased their price objective on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Mizuho increased their price objective on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a report on Friday, July 25th. The Goldman Sachs Group raised their price target on Allegion from $176.00 to $198.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Morgan Stanley raised their price target on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Finally, Robert W. Baird raised their price target on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $170.25.

Insider Activity

In other 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 transaction, the senior vice president owned 8,773 shares in the company, valued at approximately $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction dated Thursday, August 7th. The stock was 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 in the company, 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 currently owned by insiders.

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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