Sumitomo Mitsui Trust Group Inc. Has $29.17 Million Holdings in Allegion PLC $ALLE

Sumitomo Mitsui Trust Group Inc. raised its stake in Allegion PLC (NYSE:ALLE) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,367 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,687 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Allegion were worth $29,165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALLE. Sound Income Strategies LLC bought a new position in shares of Allegion in the 2nd quarter valued at about $32,000. Wayfinding Financial LLC bought a new position in Allegion during the 1st quarter worth approximately $30,000. Cary Street Partners Investment Advisory LLC boosted its stake 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 worth $39,000 after acquiring an additional 143 shares during the last quarter. National Pension Service boosted its stake 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 worth $42,000 after acquiring an additional 138 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Allegion during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ALLE shares. The Goldman Sachs Group raised their target price on shares of Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Morgan Stanley raised their target price on shares of Allegion from $139.00 to $151.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Bank of America upgraded shares of 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 report on Tuesday, July 29th. Zacks Research downgraded shares of Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Allegion from $175.00 to $185.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $176.38.

Insider Activity at Allegion

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the transaction, the senior vice president owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

Allegion Trading Down 1.1%

ALLE opened at $169.11 on Wednesday. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $180.68. The company has a 50-day simple moving average of $174.05 and a 200 day simple moving average of $155.76. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $14.55 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 3.36 and a beta of 1.07.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.09. Allegion had a net margin of 16.09% and a return on equity of 40.83%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the business posted $2.16 earnings per share. Allegion’s revenue was up 10.7% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. Analysts predict that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.2%. Allegion’s dividend payout ratio is 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.