USA Financial Formulas Buys Shares of 4,759 Allegion PLC $ALLE

USA Financial Formulas bought a new position in Allegion PLC (NYSE:ALLE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,759 shares of the scientific and technical instruments company’s stock, valued at approximately $844,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ALLE. Ballentine Partners LLC acquired a new position in shares of Allegion during the 2nd quarter valued at about $244,000. Los Angeles Capital Management LLC boosted its position in Allegion by 48.6% during the second quarter. Los Angeles Capital Management LLC now owns 180,750 shares of the scientific and technical instruments company’s stock worth $26,050,000 after purchasing an additional 59,144 shares during the period. Berkshire Hathaway Inc acquired a new position in Allegion during the second quarter valued at approximately $112,433,000. Janney Montgomery Scott LLC raised its position in shares of Allegion by 9.6% in the second quarter. Janney Montgomery Scott LLC now owns 71,087 shares of the scientific and technical instruments company’s stock valued at $10,245,000 after purchasing an additional 6,247 shares during the period. Finally, Grimes & Company Inc. bought a new position in shares of Allegion in the second quarter valued at approximately $210,000. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALLE shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. Robert W. Baird upped 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. Barclays lifted their price objective on Allegion from $185.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. The Goldman Sachs Group increased 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. Finally, Zacks Research downgraded Allegion from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Allegion presently has an average rating of “Hold” and an average target price of $175.13.

Allegion Stock Down 0.0%

Shares of ALLE opened at $159.88 on Friday. 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 company has a 50-day simple moving average of $165.92 and a 200-day simple moving average of $162.57. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $180.68. The firm has a market capitalization of $13.75 billion, a P/E ratio of 21.63, a P/E/G ratio of 3.13 and a beta of 1.03.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 earnings per share. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. On average, equities research analysts expect that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, December 16th. Allegion’s dividend payout ratio (DPR) is 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.