Allegion PLC $ALLE Stake Lowered by TD Private Client Wealth LLC

TD Private Client Wealth LLC trimmed its stake in shares of Allegion PLC (NYSE:ALLE) by 20.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,933 shares of the scientific and technical instruments company’s stock after selling 4,387 shares during the quarter. TD Private Client Wealth LLC’s holdings in Allegion were worth $3,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. increased its position in Allegion by 3.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,433 shares of the scientific and technical instruments company’s stock worth $609,000 after buying an additional 128 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Allegion by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 203,386 shares of the scientific and technical instruments company’s stock worth $36,071,000 after acquiring an additional 1,019 shares during the last quarter. First Horizon Corp acquired a new stake in shares of Allegion in the 3rd quarter worth about $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Allegion in the 3rd quarter valued at about $452,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Allegion by 3.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,179 shares of the scientific and technical instruments company’s stock valued at $2,160,000 after purchasing an additional 358 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. Barclays lowered their target price 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. The Goldman Sachs Group lifted their target price on Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Wells Fargo & Company reissued a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Finally, Robert W. Baird lifted their price objective on shares of Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $174.25.

Allegion Stock Performance

Shares of NYSE ALLE opened at $161.68 on Wednesday. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $180.68. The firm has a market cap of $13.91 billion, a P/E ratio of 21.88, a PEG ratio of 2.93 and a beta of 1.04. The stock has a fifty day moving average price of $162.29 and a two-hundred day moving average price of $165.36. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.77.

Allegion (NYSE:ALLE) last posted its quarterly earnings data 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 return on equity of 40.83% and a net margin of 16.09%.The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The company’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. Research analysts forecast that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, December 16th. Allegion’s dividend payout ratio is presently 27.60%.

About Allegion

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.