Forsta AP Fonden Lowers Stake in Allegion PLC $ALLE

Forsta AP Fonden lessened its stake in shares of Allegion PLC (NYSE:ALLE) by 47.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,700 shares of the scientific and technical instruments company’s stock after selling 15,900 shares during the quarter. Forsta AP Fonden’s holdings in Allegion were worth $2,551,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ALLE. Sound Income Strategies LLC purchased a new stake in shares of Allegion during the 2nd quarter worth $32,000. Spire Wealth Management raised its holdings in Allegion by 78.0% in the second quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 103 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in Allegion by 91.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 143 shares in the last quarter. National Pension Service boosted its holdings in shares of Allegion by 75.0% in the 1st quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock valued at $42,000 after buying an additional 138 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Allegion in the 1st quarter worth approximately $44,000. 92.21% of the stock is owned by institutional investors.

Allegion Stock Down 2.0%

Shares of ALLE stock opened at $161.24 on Friday. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $180.68. The firm has a market capitalization of $13.87 billion, a PE ratio of 21.82, a P/E/G ratio of 3.15 and a beta of 1.07. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.77. The stock’s 50-day simple moving average is $172.90 and its 200-day simple moving average is $159.04.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.05 billion. During the same quarter in the prior year, the firm earned $2.16 earnings per share. Allegion’s revenue for the quarter was up 10.7% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. Equities analysts expect that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued 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 of this dividend was Monday, September 15th. Allegion’s dividend payout ratio (DPR) is 27.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ALLE shares. Bank of America raised shares of Allegion from an “underperform” rating to a “neutral” rating and increased their target price for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Robert W. Baird upped their price target on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Wells Fargo & Company raised their price objective on Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Mizuho upped their target price on Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Finally, Zacks Research cut Allegion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $176.38.

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.