IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Stock Holdings in Allegion PLC $ALLE

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its stake in shares of Allegion PLC (NYSE:ALLE) by 7.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,152 shares of the scientific and technical instruments company’s stock after selling 883 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Allegion were worth $1,607,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALLE. Wayfinding Financial LLC purchased a new position in Allegion during the first quarter valued at $30,000. Sound Income Strategies LLC purchased a new position in Allegion during the second quarter valued at $32,000. Cary Street Partners Investment Advisory LLC grew its stake in 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 grew its stake in 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 purchased a new position in Allegion during the first quarter valued at $44,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were 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 owned 30,023 shares in the company, valued at approximately $4,946,589.48. This trade represents a 26.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Robert W. Baird lifted their price objective 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 lifted their price objective on shares of Allegion from $185.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. Mizuho lifted their price objective on shares of Allegion from $145.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. The Goldman Sachs Group lifted their price objective on shares of Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Finally, Zacks Research cut shares of Allegion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Three 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, the stock has an average rating of “Hold” and a consensus target price of $176.38.

Allegion Price Performance

Allegion stock opened at $169.11 on Wednesday. The firm has a 50-day moving average price of $174.05 and a 200-day moving average price of $155.76. The firm has a market capitalization of $14.55 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $180.68.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.09. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. Allegion had a net margin of 16.09% and a return on equity of 40.83%. The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $2.16 EPS. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, equities research analysts forecast that Allegion PLC will post 7.77 EPS for the current year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.51 dividend. 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 (DPR) is 27.60%.

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.