TD Asset Management Inc Lowers Stock Holdings in Allegion PLC $ALLE

TD Asset Management Inc trimmed its position in shares of Allegion PLC (NYSE:ALLE) by 2.5% in the second quarter, HoldingsChannel.com reports. The fund owned 24,275 shares of the scientific and technical instruments company’s stock after selling 623 shares during the period. TD Asset Management Inc’s holdings in Allegion were worth $3,499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in Allegion during the 1st quarter valued at about $30,000. Sound Income Strategies LLC purchased a new position in Allegion during the 2nd quarter valued at about $32,000. Garde Capital Inc. purchased a new position in Allegion during the 1st quarter valued at about $36,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Allegion by 91.7% during the 1st 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 acquiring an additional 143 shares during the period. Finally, National Pension Service boosted its holdings in Allegion by 75.0% during the 1st quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 138 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALLE has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective on Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Bank of America upgraded Allegion from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. Barclays lifted their price objective on Allegion from $163.00 to $185.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Finally, Zacks Research cut Allegion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Allegion has an average rating of “Hold” and a consensus target price of $174.25.

Insider Activity

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the sale, the senior vice president owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. This trade represents a 26.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction that occurred on 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 directly owned 8,773 shares in the company, valued at approximately $1,446,843.16. This trade represents a 30.49% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Allegion Price Performance

Shares of NYSE ALLE opened at $178.00 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $180.34. The firm has a market capitalization of $15.28 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 3.83 and a beta of 1.07. The stock’s 50-day simple moving average is $173.55 and its 200-day simple moving average is $153.63.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $999.10 million. During the same quarter last year, the company earned $1.96 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, equities research analysts forecast that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, September 15th. Allegion’s dividend payout ratio (DPR) is 28.33%.

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.