Intech Investment Management LLC Sells 58,774 Shares of Allegion PLC $ALLE

Intech Investment Management LLC trimmed its stake in shares of Allegion PLC (NYSE:ALLE) by 73.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,376 shares of the scientific and technical instruments company’s stock after selling 58,774 shares during the quarter. Intech Investment Management LLC’s holdings in Allegion were worth $3,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in Allegion by 380.0% during 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 during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Allegion by 22.5% in the 1st 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 during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Allegion by 390.9% in the 2nd 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 purchasing an additional 472,435 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Allegion by 15.2% during the second quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock worth $369,514,000 after buying an additional 339,025 shares during the period. Finally, Nuveen LLC bought a new position in Allegion during the first quarter worth $40,240,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on ALLE shares. Bank of America raised shares of Allegion from an “underperform” rating to a “neutral” rating and upped their price target for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Zacks Research lowered Allegion from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. The Goldman Sachs Group raised their target price on Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a report on Wednesday, October 8th. Finally, Barclays boosted their price target on Allegion from $185.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, October 24th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $176.38.

Allegion Stock Performance

Shares of ALLE opened at $160.70 on Thursday. The firm has a market capitalization of $13.83 billion, a P/E ratio of 21.75, a P/E/G ratio of 3.15 and a beta of 1.07. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $180.68. The stock has a 50 day moving average price of $172.26 and a two-hundred day moving average price of $159.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.77.

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

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, September 15th. Allegion’s payout ratio is currently 27.60%.

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.