Neuberger Berman Group LLC Raises Stock Holdings in Allegion PLC $ALLE

Neuberger Berman Group LLC boosted its stake in Allegion PLC (NYSE:ALLE) by 50.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,427 shares of the scientific and technical instruments company’s stock after purchasing an additional 8,185 shares during the quarter. Neuberger Berman Group LLC’s holdings in Allegion were worth $3,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sound Income Strategies LLC bought a new position in shares of Allegion in the 2nd quarter worth $32,000. CYBER HORNET ETFs LLC purchased a new position in Allegion in the second quarter worth $33,000. Spire Wealth Management increased its stake in Allegion by 78.0% in the second quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 103 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in Allegion during the second quarter valued at about $37,000. Finally, National Pension Service lifted its stake in Allegion by 75.0% during the first quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Zacks Research cut Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price objective on shares of Allegion from $175.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Barclays lifted their target price on shares of Allegion from $185.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Finally, The Goldman Sachs Group upped their price target 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 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 stock has an average rating of “Hold” and a consensus target price of $176.38.

Allegion Price Performance

ALLE stock opened at $160.64 on Monday. The stock has a market capitalization of $13.82 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 3.14 and a beta of 1.03. The firm’s 50-day moving average price is $167.48 and its two-hundred day moving average price is $162.03. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $180.68.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.09. Allegion had a return on equity of 40.83% and a net margin of 16.09%.The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm earned $2.16 earnings per share. Allegion’s quarterly revenue was up 10.7% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, equities analysts predict that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. Allegion’s 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.