Schroder Investment Management Group Buys 117,407 Shares of Allegion PLC $ALLE

Schroder Investment Management Group raised its stake in Allegion PLC (NYSE:ALLE) by 62.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,931 shares of the scientific and technical instruments company’s stock after buying an additional 117,407 shares during the period. Schroder Investment Management Group’s holdings in Allegion were worth $44,091,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in Allegion by 0.7% during the 1st 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 buying an additional 4,942 shares during the period. Ballentine Partners LLC acquired a new stake in shares of Allegion in the second quarter valued at about $244,000. Atria Wealth Solutions Inc. raised its position in shares of 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 acquiring an additional 154 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Allegion by 9.6% in the second quarter. Janney Montgomery Scott LLC now owns 71,087 shares of the scientific and technical instruments company’s stock worth $10,245,000 after acquiring an additional 6,247 shares during the period. Finally, Grimes & Company Inc. acquired a new position in shares of Allegion in the second quarter worth approximately $210,000. Institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

ALLE has been the subject of a number of recent analyst reports. Robert W. Baird increased their target price on shares of Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group upped 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. Zacks Research cut shares of Allegion from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. Barclays boosted their target price 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, Wells Fargo & Company increased their price target on Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Allegion currently has a consensus rating of “Hold” and an average target price of $176.38.

Allegion Stock Up 0.2%

Allegion stock opened at $166.03 on Monday. The company has a market capitalization of $14.28 billion, a PE ratio of 22.47, a PEG ratio of 3.24 and a beta of 1.03. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $180.68. The firm’s fifty day moving average is $170.42 and its 200 day moving average is $160.72. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 1.06.

Allegion (NYSE:ALLE) last posted 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 net margin of 16.09% and a return on equity of 40.83%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The business’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. As a group, sell-side analysts predict that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

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

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.