Mutual of America Capital Management LLC Reduces Position in Allegion PLC $ALLE

Mutual of America Capital Management LLC lessened its holdings in shares of Allegion PLC (NYSE:ALLE) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,870 shares of the scientific and technical instruments company’s stock after selling 241 shares during the period. Mutual of America Capital Management LLC’s holdings in Allegion were worth $1,422,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALLE. Wayfinding Financial LLC bought a new stake in shares of Allegion during the first quarter valued at approximately $30,000. Sound Income Strategies LLC bought a new stake in shares of Allegion during the second quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of Allegion by 91.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company’s stock valued at $39,000 after acquiring an additional 143 shares in the last quarter. National Pension Service raised its stake in shares of Allegion by 75.0% during the first quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 138 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Allegion during the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ALLE shares. Morgan Stanley lifted their price target on shares of Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Mizuho lifted their price objective on shares of Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Barclays upped their target price on Allegion from $185.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday. Bank of America upgraded Allegion from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $110.00 to $175.00 in a report on Tuesday, July 29th. Finally, Zacks Research lowered Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $176.38.

Allegion Stock Down 2.2%

Allegion stock opened at $167.37 on Monday. The business has a fifty day moving average of $173.98 and a two-hundred day moving average of $155.11. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 1.06. The firm has a market cap of $14.40 billion, a P/E ratio of 22.65, a P/E/G ratio of 3.61 and a beta of 1.07. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $180.68.

Allegion (NYSE:ALLE) last issued its quarterly earnings results 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 business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. Allegion had a return on equity of 40.83% and a net margin of 16.09%.The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 earnings per share. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. On average, analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.2%. Allegion’s dividend payout ratio is presently 27.60%.

Insider Activity

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

Allegion 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.