Intech Investment Management LLC Sells 58,774 Shares of Allegion PLC $ALLE

Intech Investment Management LLC reduced its holdings in shares of Allegion PLC (NYSE:ALLE) by 73.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,376 shares of the scientific and technical instruments company’s stock after selling 58,774 shares during the quarter. Intech Investment Management LLC’s holdings in Allegion were worth $3,081,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ALLE. Sound Income Strategies LLC bought a new position in Allegion during the second quarter worth $32,000. Spire Wealth Management lifted its stake in shares of Allegion by 78.0% during the 2nd quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 103 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of 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 buying an additional 143 shares during the period. National Pension Service grew its stake in Allegion by 75.0% in the 1st quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock valued at $42,000 after buying an additional 138 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Allegion in the 1st quarter valued at about $44,000. Institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

ALLE has been the subject of several research reports. Zacks Research downgraded shares of Allegion from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. Robert W. Baird lifted 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. Mizuho upped 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. Wells Fargo & Company increased their price objective on Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Finally, The Goldman Sachs Group boosted their target price on shares of Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $176.38.

Allegion Trading Down 0.2%

NYSE ALLE opened at $160.70 on Thursday. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 3.15 and a beta of 1.07. Allegion PLC has a twelve month low of $116.57 and a twelve month 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 business’s fifty day moving average is $172.26 and its 200 day moving average is $159.48.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. Allegion had a return on equity of 40.83% and a net margin of 16.09%.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 firm earned $2.16 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, sell-side analysts expect that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, September 15th. 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.