Nordea Investment Management AB Sells 42,809 Shares of Allegion PLC $ALLE

Nordea Investment Management AB lowered its stake in shares of Allegion PLC (NYSE:ALLE) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,466,758 shares of the scientific and technical instruments company’s stock after selling 42,809 shares during the quarter. Nordea Investment Management AB owned approximately 1.70% of Allegion worth $259,924,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ALLE. Berkshire Hathaway Inc purchased a new position in Allegion in the second quarter valued at about $112,433,000. Norges Bank bought a new stake in shares of Allegion in the 2nd quarter worth approximately $109,862,000. Robeco Institutional Asset Management B.V. lifted its stake in Allegion by 390.9% in 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 purchasing an additional 472,435 shares during the last quarter. Geode Capital Management LLC lifted its stake in Allegion by 15.2% in the second quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock valued at $369,514,000 after purchasing an additional 339,025 shares during the last quarter. Finally, Cooke & Bieler LP grew 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 valued at $78,496,000 after purchasing an additional 295,395 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLE has been the topic of several research reports. Robert W. Baird boosted their target price on Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Wells Fargo & Company restated a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Barclays cut their target price on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Allegion in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $174.25.

Allegion Price Performance

ALLE stock opened at $161.68 on Wednesday. The firm has a 50 day moving average of $162.29 and a 200-day moving average of $165.36. The firm has a market capitalization of $13.91 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.93 and a beta of 1.04. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $180.68. 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 (NYSE:ALLE) last posted its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.09. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Allegion had a net margin of 16.09% and a return on equity of 40.83%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.16 EPS. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, sell-side analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, December 16th. Allegion’s payout ratio is presently 27.60%.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.