Allegion PLC $ALLE Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its holdings in Allegion PLC (NYSE:ALLE) by 52.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 244,357 shares of the scientific and technical instruments company’s stock after acquiring an additional 84,434 shares during the period. Acadian Asset Management LLC owned 0.28% of Allegion worth $35,209,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Allegion by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 740,233 shares of the scientific and technical instruments company’s stock worth $96,571,000 after acquiring an additional 4,942 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in Allegion by 5.6% during the first quarter. Atria Wealth Solutions Inc. now owns 2,924 shares of the scientific and technical instruments company’s stock worth $381,000 after purchasing an additional 154 shares during the period. Grimes & Company Inc. acquired a new position in shares of Allegion in the 2nd quarter valued at $210,000. Janney Montgomery Scott LLC boosted its holdings in shares of Allegion by 9.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 71,087 shares of the scientific and technical instruments company’s stock valued at $10,245,000 after purchasing an additional 6,247 shares during the last quarter. Finally, First Bank & Trust purchased a new position in shares of Allegion in the 2nd quarter worth $218,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Performance

NYSE:ALLE opened at $166.90 on Tuesday. The firm has a 50-day moving average of $173.24 and a two-hundred day moving average of $158.41. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.77 and a quick ratio of 1.11. The stock has a market cap of $14.36 billion, a P/E ratio of 22.58, a PEG ratio of 3.28 and a beta of 1.07. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $180.68.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.21 by $0.09. The business 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 company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.16 earnings per share. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. On average, research analysts expect that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Mizuho boosted their price target on Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. The Goldman Sachs Group increased their target price on shares of Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Barclays raised their price target on shares of Allegion from $185.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Zacks Research downgraded shares of Allegion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Finally, Bank of America raised shares of Allegion from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $176.38.

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.