Allegion PLC $ALLE Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its holdings in Allegion PLC (NYSE:ALLE) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,356,869 shares of the scientific and technical instruments company’s stock after purchasing an additional 113,821 shares during the period. Massachusetts Financial Services Co. MA owned about 2.74% of Allegion worth $417,991,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ALLE. First Horizon Corp bought a new position in shares of Allegion during the third quarter worth about $26,000. Sound Income Strategies LLC bought a new stake in Allegion in the second quarter valued at about $32,000. CYBER HORNET ETFs LLC acquired a new stake in Allegion during the second quarter valued at approximately $33,000. Spire Wealth Management lifted its holdings in Allegion by 78.0% during the 2nd quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 103 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in shares of Allegion in the 2nd quarter valued at approximately $37,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ALLE. Barclays dropped their price target on Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 7th. Wells Fargo & Company reissued a “positive” rating on shares of Allegion in a report on Tuesday, December 16th. Robert W. Baird raised their price target on shares of Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Allegion presently has a consensus rating of “Hold” and an average price target of $174.25.

Allegion Stock Performance

ALLE stock opened at $165.27 on Monday. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $180.68. The stock has a market capitalization of $14.22 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 3.01 and a beta of 1.04. 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 fifty day moving average is $162.13 and its two-hundred day moving average is $165.71.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 EPS for the quarter, topping 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 business had revenue of $1.07 billion during 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. The company’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. On average, research analysts predict that Allegion PLC will post 7.77 EPS for the current year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were issued a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $2.04 annualized dividend and a yield of 1.2%. Allegion’s dividend payout ratio 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.