Montag A & Associates Inc. Trims Holdings in Allegion PLC $ALLE

Montag A & Associates Inc. lowered its position in Allegion PLC (NYSE:ALLE) by 23.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,336 shares of the scientific and technical instruments company’s stock after selling 412 shares during the period. Montag A & Associates Inc.’s holdings in Allegion were worth $193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sound Income Strategies LLC acquired a new stake in Allegion during the 2nd quarter valued at approximately $32,000. Spire Wealth Management raised its holdings in shares of Allegion by 78.0% during the second quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 103 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted 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 purchasing an additional 143 shares during the period. National Pension Service boosted its holdings in Allegion by 75.0% in the first quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock valued at $42,000 after purchasing an additional 138 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Allegion during the 1st quarter worth about $44,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Up 0.4%

ALLE stock opened at $168.21 on Thursday. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $180.68. 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 firm has a 50-day simple moving average of $173.24 and a 200-day simple moving average of $158.69. The stock has a market capitalization of $14.47 billion, a P/E ratio of 22.76, a P/E/G ratio of 3.28 and a beta of 1.07.

Allegion (NYSE:ALLE) last issued its quarterly 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 net margin of 16.09% and a return on equity of 40.83%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted $2.16 EPS. Allegion’s quarterly 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. 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 1.2%. The ex-dividend date was Monday, September 15th. Allegion’s payout ratio is presently 27.60%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALLE. The Goldman Sachs Group boosted their price objective on Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. Barclays lifted 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. Robert W. Baird upped their price target on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Finally, Mizuho raised their price objective on Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $176.38.

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.