Allegion PLC $ALLE Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC cut its stake in Allegion PLC (NYSE:ALLE) by 26.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,528 shares of the scientific and technical instruments company’s stock after selling 536 shares during the period. Frank Rimerman Advisors LLC’s holdings in Allegion were worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ALLE shares. Wells Fargo & Company boosted their target price 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their price objective on Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Robert W. Baird raised their target price on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Finally, Mizuho upped their price target on Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $176.38.

Allegion Price Performance

ALLE stock opened at $163.02 on Friday. The business’s fifty day moving average price is $171.66 and its 200 day moving average price is $159.64. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $180.68. 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 company has a market capitalization of $14.02 billion, a PE ratio of 22.06, a P/E/G ratio of 3.12 and a beta of 1.07.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Allegion had a return on equity of 40.83% and a net margin of 16.09%.Allegion’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. On average, sell-side analysts anticipate that Allegion PLC will post 7.77 EPS for the current year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.51 dividend. The ex-dividend date was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. Allegion’s payout ratio is 27.60%.

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.