Park Avenue Securities LLC Acquires 4,420 Shares of Allegion PLC $ALLE

Park Avenue Securities LLC grew its stake in Allegion PLC (NYSE:ALLE) by 43.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 14,653 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,420 shares during the quarter. Park Avenue Securities LLC’s holdings in Allegion were worth $2,599,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ALLE. Berkshire Hathaway Inc acquired a new stake in Allegion in the 2nd quarter valued at $112,433,000. Norges Bank bought a new position in shares of Allegion during the second quarter valued at $109,862,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Allegion by 390.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 593,298 shares of the scientific and technical instruments company’s stock valued at $85,506,000 after purchasing an additional 472,435 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Allegion by 15.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock valued at $369,514,000 after purchasing an additional 339,025 shares in the last quarter. Finally, Cooke & Bieler LP grew its holdings in shares of Allegion by 118.5% in the 2nd quarter. Cooke & Bieler LP now owns 544,659 shares of the scientific and technical instruments company’s stock worth $78,496,000 after purchasing an additional 295,395 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Wells Fargo & Company reiterated a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Barclays reduced their target price on Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday. Robert W. Baird raised their price target on Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $174.25.

Allegion Stock Performance

Shares of Allegion stock opened at $162.66 on Friday. 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 50 day simple moving average of $162.43 and a 200 day simple moving average of $164.95. 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 cap of $13.99 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.95 and a beta of 1.04.

Allegion (NYSE:ALLE) last announced its quarterly earnings data 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. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. Allegion had a return on equity of 40.83% and a net margin of 16.09%.The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $2.16 EPS. 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Tuesday, December 16th. Allegion’s dividend payout ratio (DPR) is presently 27.60%.

Allegion Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.