iA Global Asset Management Inc. Sells 7,515 Shares of Allegion PLC $ALLE

iA Global Asset Management Inc. lowered its position in Allegion PLC (NYSE:ALLE) by 75.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,469 shares of the scientific and technical instruments company’s stock after selling 7,515 shares during the period. iA Global Asset Management Inc.’s holdings in Allegion were worth $356,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC bought a new position in shares of Allegion in the second quarter valued at approximately $32,000. Wayfinding Financial LLC bought a new position in shares of Allegion in the first quarter valued at approximately $30,000. Spire Wealth Management raised its stake in shares of Allegion by 78.0% in the second quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 103 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of 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 valued at $39,000 after acquiring an additional 143 shares during the last quarter. Finally, National Pension Service raised its stake in shares of Allegion by 75.0% in 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 during the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of Allegion stock opened at $165.53 on Wednesday. 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 firm has a market cap of $14.24 billion, a P/E ratio of 22.40, a P/E/G ratio of 3.23 and a beta of 1.07. The firm has a 50 day simple moving average of $173.59 and a 200 day simple moving average of $157.36. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week 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 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.05 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The business’s quarterly 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. Sell-side analysts predict 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. Shareholders of record on Monday, September 15th were issued a dividend of $0.51 per share. 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 currently 27.60%.

Insider Buying and Selling

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the completion of the sale, the senior vice president owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

ALLE has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of Allegion from $185.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, October 24th. Robert W. Baird raised their price target on shares of Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Morgan Stanley raised their price target on shares of Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Mizuho raised their price target on shares of Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Finally, Wells Fargo & Company raised their price target on shares of Allegion from $175.00 to $185.00 and gave the company 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, the stock has a consensus rating of “Hold” and a consensus target price 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.