Allegion PLC $ALLE Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its position in Allegion PLC (NYSE:ALLE) by 66.5% during the second quarter, HoldingsChannel.com reports. The fund owned 163,310 shares of the scientific and technical instruments company’s stock after acquiring an additional 65,241 shares during the period. Teacher Retirement System of Texas’ holdings in Allegion were worth $23,536,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd boosted its stake in shares of Allegion by 558.8% in the second quarter. Y Intercept Hong Kong Ltd now owns 25,997 shares of the scientific and technical instruments company’s stock worth $3,747,000 after acquiring an additional 22,051 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Allegion by 32.4% in the second quarter. Envestnet Asset Management Inc. now owns 527,338 shares of the scientific and technical instruments company’s stock worth $76,000,000 after acquiring an additional 129,156 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Allegion by 8.2% in the second quarter. Nisa Investment Advisors LLC now owns 20,946 shares of the scientific and technical instruments company’s stock worth $3,019,000 after acquiring an additional 1,580 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Allegion by 5.6% in the second quarter. Wealthfront Advisers LLC now owns 2,764 shares of the scientific and technical instruments company’s stock worth $398,000 after acquiring an additional 146 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Allegion in the second quarter worth approximately $743,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Performance

Shares of Allegion stock opened at $171.24 on Tuesday. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $180.68. The business’s fifty day simple moving average is $174.06 and its 200-day simple moving average is $155.44. The firm has a market cap of $14.73 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 3.61 and a beta of 1.07. 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 (NYSE:ALLE) last posted its quarterly earnings data 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 the consensus estimate 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 quarter in the previous year, the business earned $2.16 EPS. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. Equities analysts forecast that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, September 15th. Allegion’s payout ratio is currently 27.60%.

Analyst Ratings Changes

ALLE has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their price objective on Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Morgan Stanley boosted their price objective on Allegion from $139.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Robert W. Baird boosted their price objective on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Wells Fargo & Company boosted their price objective on Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Finally, Zacks Research lowered Allegion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Allegion presently has a consensus rating of “Hold” and an average price target of $176.38.

Insider Activity

In related news, SVP Timothy P. Eckersley sold 10,810 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the sale, the senior vice president owned 30,023 shares in the company, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

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.