Montag A & Associates Inc. Cuts Stake in Allegion PLC $ALLE

Montag A & Associates Inc. reduced its position in Allegion PLC (NYSE:ALLE) by 23.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,336 shares of the scientific and technical instruments company’s stock after selling 412 shares during the quarter. Montag A & Associates Inc.’s holdings in Allegion were worth $193,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALLE. AQR Capital Management LLC raised its holdings in shares of Allegion by 380.0% in the 1st quarter. AQR Capital Management LLC now owns 1,118,960 shares of the scientific and technical instruments company’s stock valued at $142,707,000 after purchasing an additional 885,857 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of 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 valued at $623,104,000 after purchasing an additional 878,796 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings 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 valued at $85,506,000 after buying an additional 472,435 shares during the period. Nuveen LLC bought a new position in Allegion in the first quarter worth approximately $40,240,000. Finally, Cooke & Bieler LP lifted its holdings in Allegion by 118.5% during the second quarter. Cooke & Bieler LP now owns 544,659 shares of the scientific and technical instruments company’s stock worth $78,496,000 after buying an additional 295,395 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALLE. Zacks Research downgraded Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Robert W. Baird raised their price objective on Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Barclays lifted their target price on Allegion from $185.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, October 24th. Bank of America raised shares of Allegion from an “underperform” rating to a “neutral” rating and increased their price target for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group lifted 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. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $176.38.

Allegion Price Performance

Shares of NYSE ALLE opened at $168.21 on Thursday. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $180.68. The company has a market cap of $14.47 billion, a PE ratio of 22.76, a P/E/G ratio of 3.28 and a beta of 1.07. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.77. The business has a 50-day simple moving average of $173.24 and a two-hundred day simple moving average of $158.69.

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

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.51 per share. 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 presently 27.60%.

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.