Nordea Investment Management AB Increases Holdings in Allegion PLC $ALLE

Nordea Investment Management AB lifted its position in Allegion PLC (NYSE:ALLE) by 22.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,509,567 shares of the scientific and technical instruments company’s stock after purchasing an additional 277,241 shares during the quarter. Nordea Investment Management AB owned about 1.75% of Allegion worth $216,095,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in Allegion during the first quarter valued at approximately $30,000. Sound Income Strategies LLC purchased a new position in Allegion during the second quarter valued at approximately $32,000. Garde Capital Inc. purchased a new position in Allegion during the first quarter valued at approximately $36,000. Cary Street Partners Investment Advisory LLC raised its position in Allegion by 91.7% during the first 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 in the last quarter. Finally, National Pension Service raised its position in Allegion by 75.0% during the first 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 in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Robert W. Baird raised their price objective on Allegion from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Bank of America raised Allegion from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $110.00 to $175.00 in a report on Tuesday, July 29th. Zacks Research lowered Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Finally, Morgan Stanley raised their price objective on Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. 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 company presently has an average rating of “Hold” and an average price target of $174.25.

Allegion Stock Performance

Shares of NYSE:ALLE opened at $177.57 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. The business’s 50 day moving average price is $173.28 and its 200-day moving average price is $152.92. The firm has a market capitalization of $15.24 billion, a PE ratio of 24.66, a P/E/G ratio of 3.81 and a beta of 1.07. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $180.34.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, equities research analysts expect that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 1.1%. Allegion’s payout ratio is 28.33%.

Insiders Place Their Bets

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the business’s stock in a transaction on 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 transaction, the senior vice president owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of the business’s stock in a transaction 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 $1,446,843.16. This trade represents a 30.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

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.