JPMorgan Chase & Co. Sells 62,447 Shares of Allegion PLC $ALLE

JPMorgan Chase & Co. lessened its holdings in Allegion PLC (NYSE:ALLE) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 875,138 shares of the scientific and technical instruments company’s stock after selling 62,447 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.02% of Allegion worth $126,125,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALLE. DNB Asset Management AS raised its stake in shares of Allegion by 4.4% during the second quarter. DNB Asset Management AS now owns 27,713 shares of the scientific and technical instruments company’s stock valued at $3,994,000 after acquiring an additional 1,171 shares during the last quarter. Entropy Technologies LP acquired a new stake in Allegion in the second quarter valued at $1,036,000. Swiss National Bank raised its position in Allegion by 6.7% during the 2nd quarter. Swiss National Bank now owns 261,600 shares of the scientific and technical instruments company’s stock worth $37,702,000 after purchasing an additional 16,500 shares during the last quarter. Prudential PLC raised its position in Allegion by 54.7% during the 2nd quarter. Prudential PLC now owns 51,162 shares of the scientific and technical instruments company’s stock worth $7,373,000 after purchasing an additional 18,095 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in Allegion by 30.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 48,810 shares of the scientific and technical instruments company’s stock worth $7,034,000 after buying an additional 11,321 shares during the period. 92.21% of the stock is owned by institutional investors.

Allegion Stock Performance

NYSE:ALLE opened at $165.78 on Thursday. 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 PLC has a twelve month low of $116.57 and a twelve month high of $180.68. The company has a fifty day moving average of $170.94 and a 200-day moving average of $160.27. The firm has a market capitalization of $14.26 billion, a P/E ratio of 22.43, a P/E/G ratio of 3.25 and a beta of 1.07.

Allegion (NYSE:ALLE) last posted its quarterly 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 business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the company posted $2.16 earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, sell-side analysts anticipate that Allegion PLC will post 7.77 EPS for the current year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid 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 dividend payout ratio is 27.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a research report on Wednesday, October 8th. 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. Barclays boosted their price target on shares of Allegion from $185.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Zacks Research cut shares of Allegion from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. Finally, Wells Fargo & Company boosted their target price 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 analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $176.38.

Allegion 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.