Elo Mutual Pension Insurance Co Takes Position in Allegion PLC $ALLE

Elo Mutual Pension Insurance Co purchased a new position in shares of Allegion PLC (NYSE:ALLE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,435 shares of the scientific and technical instruments company’s stock, valued at approximately $1,792,000.

A number of other large investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in Allegion by 380.0% during the first quarter. AQR Capital Management LLC now owns 1,118,960 shares of the scientific and technical instruments company’s stock worth $142,707,000 after acquiring an additional 885,857 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Allegion by 22.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company’s stock worth $623,104,000 after purchasing an additional 878,796 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Allegion by 390.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 593,298 shares of the scientific and technical instruments company’s stock worth $85,506,000 after purchasing an additional 472,435 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Allegion by 15.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock worth $369,514,000 after purchasing an additional 339,025 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Allegion in the 1st quarter valued at approximately $40,240,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Down 0.2%

Shares of NYSE:ALLE opened at $165.78 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 3.24 and a beta of 1.07. The stock’s 50-day moving average price is $170.68 and its two-hundred day moving average price is $160.31. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $180.68.

Allegion (NYSE:ALLE) last announced 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 for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm posted $2.16 EPS. The company’s revenue was up 10.7% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. On average, research analysts forecast that Allegion PLC will post 7.77 EPS for the current year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 1.2%. Allegion’s payout ratio is currently 27.60%.

Analyst Ratings Changes

Several research firms have weighed in on ALLE. Zacks Research downgraded Allegion from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. Wells Fargo & Company increased their price objective on Allegion from $175.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their target price on shares of Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Finally, Robert W. Baird lifted their price target on shares of Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Three 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 price target of $176.38.

Allegion 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.