Burney Co. Makes New Investment in Allegion PLC $ALLE

Burney Co. bought a new position in shares of Allegion PLC (NYSE:ALLE) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 52,422 shares of the scientific and technical instruments company’s stock, valued at approximately $9,297,000. Burney Co. owned 0.06% of Allegion at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Allegion by 0.8% during the 2nd quarter. State Street Corp now owns 3,971,235 shares of the scientific and technical instruments company’s stock valued at $572,336,000 after buying an additional 31,322 shares in the last quarter. Geode Capital Management LLC boosted its stake in Allegion by 15.2% during the second 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 acquiring an additional 339,025 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Allegion by 4.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,243,048 shares of the scientific and technical instruments company’s stock worth $323,268,000 after purchasing an additional 95,938 shares during the period. Nordea Investment Management AB increased its stake in shares of Allegion by 22.5% during the second quarter. Nordea Investment Management AB now owns 1,509,567 shares of the scientific and technical instruments company’s stock valued at $216,095,000 after purchasing an additional 277,241 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of 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 valued at $142,707,000 after purchasing an additional 885,857 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ALLE. Wells Fargo & Company reissued a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. The Goldman Sachs Group raised their price objective on shares of Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Robert W. Baird upped their target price on shares of Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Barclays increased 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $175.13.

Allegion Trading Up 0.0%

Shares of ALLE stock opened at $160.88 on Friday. The stock has a market capitalization of $13.84 billion, a P/E ratio of 21.77, a P/E/G ratio of 3.14 and a beta of 1.03. 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 50 day moving average is $164.36 and its 200 day moving average is $163.17. Allegion PLC has a 12-month low of $116.57 and a 12-month 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 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.09. Allegion had a return on equity of 40.83% and a net margin of 16.09%.The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm earned $2.16 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. Research analysts expect that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, December 16th. Allegion’s dividend payout ratio (DPR) is currently 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.