Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stake in Allegion PLC $ALLE

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Allegion PLC (NYSE:ALLE) by 23.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 20,832 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Allegion were worth $3,002,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ALLE. AQR Capital Management LLC raised its position in Allegion by 380.0% during the first quarter. AQR Capital Management LLC now owns 1,118,960 shares of the scientific and technical instruments company’s stock worth $142,707,000 after acquiring an additional 885,857 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in Allegion by 22.5% during 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 acquiring an additional 878,796 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Allegion by 390.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 593,298 shares of the scientific and technical instruments company’s stock worth $85,506,000 after acquiring an additional 472,435 shares during the period. Nuveen LLC acquired a new position in Allegion during the first quarter worth $40,240,000. Finally, Nordea Investment Management AB raised its position in Allegion by 22.5% during the second quarter. Nordea Investment Management AB now owns 1,509,567 shares of the scientific and technical instruments company’s stock worth $216,095,000 after acquiring an additional 277,241 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Stock Down 0.3%

ALLE stock opened at $165.12 on Friday. The company has a market cap of $14.21 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 3.24 and a beta of 1.07. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $180.68. The firm has a 50-day moving average of $173.95 and a two-hundred day moving average of $156.11.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Allegion had a net margin of 16.09% and a return on equity of 40.83%. Allegion’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.16 EPS. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.2%. Allegion’s dividend payout ratio is currently 27.60%.

Insider Activity

In related news, SVP Timothy P. Eckersley sold 10,810 shares of the company’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 approximately $4,946,589.48. This represents a 26.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

ALLE has been the subject of a number of research analyst reports. Mizuho upped their price objective on shares of Allegion from $145.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Wells Fargo & Company upped their price objective on shares of Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Robert W. Baird upped their price objective on shares of Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group upped their price objective on shares of Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Finally, Barclays upped their target price on shares of Allegion from $185.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $176.38.

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.