Allegion PLC $ALLE Stock Position Raised by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its position in shares of Allegion PLC (NYSE:ALLE) by 5.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,356,869 shares of the scientific and technical instruments company’s stock after buying an additional 113,821 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Allegion were worth $417,991,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Allegion by 0.8% during the second quarter. State Street Corp now owns 3,971,235 shares of the scientific and technical instruments company’s stock worth $572,336,000 after purchasing an additional 31,322 shares during the period. Geode Capital Management LLC lifted its holdings in Allegion by 15.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock worth $369,514,000 after purchasing an additional 339,025 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Allegion by 22.5% during the 2nd quarter. Nordea Investment Management AB now owns 1,509,567 shares of the scientific and technical instruments company’s stock worth $216,095,000 after buying an additional 277,241 shares during the period. Berkshire Hathaway Inc bought a new position in shares of Allegion in the second quarter worth about $112,433,000. Finally, Norges Bank bought a new stake in shares of Allegion in the second quarter valued at approximately $109,862,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALLE. Robert W. Baird raised their price objective on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Wells Fargo & Company reaffirmed a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Barclays lowered their price target on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $174.25.

Allegion Stock Up 1.1%

Shares of ALLE stock opened at $165.27 on Monday. 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 firm’s fifty day moving average price is $162.13 and its two-hundred day moving average price is $165.71. The firm has a market capitalization of $14.22 billion, a P/E ratio of 22.36, a PEG ratio of 3.01 and a beta of 1.04. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $180.68.

Allegion (NYSE:ALLE) last announced its quarterly earnings data 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. The company had revenue of $1.07 billion for 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%.The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.16 EPS. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. On average, equities analysts predict 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 Wednesday, December 31st. Investors of record on Tuesday, December 16th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, December 16th. Allegion’s dividend payout ratio is 27.60%.

About Allegion

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.