abrdn plc Grows Position in Allegion plc (NYSE:ALLE)

abrdn plc raised its holdings in shares of Allegion plc (NYSE:ALLE) by 17.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,088 shares of the scientific and technical instruments company’s stock after purchasing an additional 26,026 shares during the quarter. abrdn plc’s holdings in Allegion were worth $22,055,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC purchased a new stake in Allegion during the fourth quarter valued at about $28,000. Ancora Advisors LLC lifted its holdings in Allegion by 153.3% during the third quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 230 shares during the last quarter. Headinvest LLC purchased a new stake in Allegion during the third quarter valued at about $48,000. Itau Unibanco Holding S.A. purchased a new stake in Allegion during the third quarter valued at about $60,000. Finally, Signaturefd LLC increased its position in shares of Allegion by 37.9% during the third quarter. Signaturefd LLC now owns 633 shares of the scientific and technical instruments company’s stock valued at $66,000 after buying an additional 174 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Stock Performance

NYSE:ALLE opened at $126.97 on Wednesday. The firm has a market cap of $11.12 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 4.51 and a beta of 1.14. Allegion plc has a fifty-two week low of $95.94 and a fifty-two week high of $136.91. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.85 and a current ratio of 1.26. The business has a 50 day moving average price of $130.57 and a 200-day moving average price of $119.44.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $897.40 million during the quarter, compared to analyst estimates of $904.17 million. Allegion had a return on equity of 51.95% and a net margin of 14.80%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 earnings per share. Equities research analysts predict that Allegion plc will post 7.01 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, June 13th. Allegion’s dividend payout ratio (DPR) is presently 31.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ALLE shares. Mizuho cut Allegion from a “buy” rating to a “neutral” rating and upped their price target for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Wells Fargo & Company cut shares of Allegion from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $139.00 to $140.00 in a research report on Wednesday, February 21st. Barclays upped their price objective on shares of Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Finally, UBS Group increased their price target on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $127.83.

Insider Activity

In related news, CEO John H. Stone acquired 10,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was purchased at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the completion of the purchase, the chief executive officer now owns 104,248 shares in the company, valued at approximately $13,803,477.68. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Robert C. Martens sold 5,391 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total value of $716,140.44. Following the completion of the sale, the senior vice president now owns 7,555 shares of the company’s stock, valued at $1,003,606.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John H. Stone purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average cost of $132.41 per share, with a total value of $1,324,100.00. Following the purchase, the chief executive officer now directly owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

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.