Signaturefd LLC Reduces Stake in Allegion PLC $ALLE

Signaturefd LLC decreased its stake in shares of Allegion PLC (NYSE:ALLE) by 16.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,207 shares of the scientific and technical instruments company’s stock after selling 239 shares during the period. Signaturefd LLC’s holdings in Allegion were worth $174,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ALLE. AQR Capital Management LLC increased its position in Allegion by 380.0% during the first quarter. AQR Capital Management LLC now owns 1,118,960 shares of the scientific and technical instruments company’s stock worth $142,707,000 after buying an additional 885,857 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Allegion by 22.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company’s stock worth $623,104,000 after buying an additional 878,796 shares in the last quarter. Nuveen LLC purchased a new position in Allegion during the first quarter worth $40,240,000. Brown Advisory Inc. increased its position in Allegion by 13.2% during the first quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company’s stock worth $279,379,000 after buying an additional 249,295 shares in the last quarter. Finally, Cooke & Bieler LP purchased a new position in Allegion during the first quarter worth $32,519,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Mizuho raised their price target on Allegion from $145.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Morgan Stanley raised 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. JPMorgan Chase & Co. began coverage on Allegion in a report on Tuesday, June 24th. They set an “overweight” rating and a $170.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Finally, Robert W. Baird raised 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 equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Allegion has a consensus rating of “Hold” and an average target price of $173.00.

Insider Activity

In related news, SVP Timothy P. Eckersley sold 10,810 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the sale, the senior vice president directly owned 30,023 shares of the company’s stock, valued at $4,946,589.48. The trade was a 26.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the business’s stock in a transaction dated 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 sale, the senior vice president directly owned 8,773 shares of the company’s stock, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Allegion Trading Down 0.3%

Shares of ALLE opened at $177.29 on Friday. The stock’s 50-day moving average is $170.96 and its two-hundred day moving average is $149.68. The stock has a market cap of $15.22 billion, a PE ratio of 24.62, a P/E/G ratio of 3.82 and a beta of 1.07. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $180.34. 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 (NYSE:ALLE) last issued its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $999.10 million. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Equities analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company 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. This represents a $2.04 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, September 15th. Allegion’s payout ratio is currently 28.33%.

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.