Allegion PLC $ALLE Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS grew its holdings in Allegion PLC (NYSE:ALLE) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,800 shares of the scientific and technical instruments company’s stock after buying an additional 800 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.05% of Allegion worth $6,312,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC lifted its holdings in Allegion by 380.0% in the first 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 acquiring an additional 885,857 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Allegion by 22.5% in the first 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 period. Robeco Institutional Asset Management B.V. lifted its holdings in 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 acquiring an additional 472,435 shares during the period. Nuveen LLC acquired a new stake in shares of Allegion in the first quarter valued at about $40,240,000. Finally, Brown Advisory Inc. lifted its stake in shares of Allegion by 13.2% in the first quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company’s stock valued at $279,379,000 after purchasing an additional 249,295 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Trading Down 1.3%

Shares of Allegion stock opened at $173.20 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $180.34. The company has a market capitalization of $14.87 billion, a P/E ratio of 24.06, a P/E/G ratio of 3.77 and a beta of 1.07. The business has a 50 day moving average price of $172.12 and a 200 day moving average price of $151.32.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.04. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. During the same period in the previous year, the firm posted $1.96 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Sell-side analysts anticipate that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 1.2%. Allegion’s payout ratio is presently 28.33%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALLE. JPMorgan Chase & Co. initiated coverage on shares of Allegion in a research note on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 price objective for the company. Mizuho lifted their price target on shares of Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a report on Wednesday. Morgan Stanley lifted their price objective on Allegion from $139.00 to $151.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Finally, Robert W. Baird lifted their price objective on Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Three research 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 currently has a consensus rating of “Hold” and an average target price of $174.25.

Insider Activity

In other news, SVP Tracy L. Kemp sold 3,849 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the completion of the transaction, the senior vice president owned 8,773 shares of the company’s stock, valued at $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the completion of the transaction, the senior vice president directly owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

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.