abrdn plc Grows Stock Holdings in Allegion plc (NYSE:ALLE)

abrdn plc raised its stake in Allegion plc (NYSE:ALLE) by 17.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 174,088 shares of the scientific and technical instruments company’s stock after buying an additional 26,026 shares during the period. abrdn plc owned about 0.20% of Allegion worth $22,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in ALLE. Schechter Investment Advisors LLC lifted its position in Allegion by 3.9% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,554 shares of the scientific and technical instruments company’s stock valued at $324,000 after acquiring an additional 97 shares during the last quarter. Huntington National Bank increased its stake in shares of Allegion by 19.5% in the third quarter. Huntington National Bank now owns 638 shares of the scientific and technical instruments company’s stock worth $66,000 after acquiring an additional 104 shares during the period. Allworth Financial LP increased its stake in shares of Allegion by 11.8% in the fourth quarter. Allworth Financial LP now owns 982 shares of the scientific and technical instruments company’s stock worth $124,000 after acquiring an additional 104 shares during the period. iA Global Asset Management Inc. increased its stake in shares of Allegion by 5.4% in the third quarter. iA Global Asset Management Inc. now owns 2,200 shares of the scientific and technical instruments company’s stock worth $229,000 after acquiring an additional 112 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Allegion by 0.6% in the fourth quarter. Arizona State Retirement System now owns 24,126 shares of the scientific and technical instruments company’s stock worth $3,057,000 after acquiring an additional 133 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO John H. Stone acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average cost of $132.41 per share, for a total transaction of $1,324,100.00. Following the completion of the transaction, the chief executive officer now owns 104,248 shares in the company, valued at $13,803,477.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO John H. Stone acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average cost of $132.41 per share, for a total transaction of $1,324,100.00. Following the completion of the transaction, the chief executive officer now owns 104,248 shares in the company, valued at $13,803,477.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert C. Martens sold 5,391 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total transaction of $716,140.44. Following the sale, the senior vice president now owns 7,555 shares of the company’s stock, valued at $1,003,606.20. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on ALLE shares. Wells Fargo & Company lowered shares of Allegion from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $139.00 to $140.00 in a research note on Wednesday, February 21st. UBS Group raised their price target on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Mizuho lowered shares of Allegion from a “buy” rating to a “neutral” rating and raised their price target for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Barclays increased their price objective on shares of Allegion from $121.00 to $122.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $127.83.

Allegion Stock Performance

NYSE:ALLE opened at $126.97 on Wednesday. The company’s 50-day moving average price is $130.57 and its 200-day moving average price is $119.44. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 1.22. The company has a market cap of $11.12 billion, a P/E ratio of 20.75, a P/E/G ratio of 4.51 and a beta of 1.14. Allegion plc has a twelve month low of $95.94 and a twelve month high of $136.91.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. The firm had revenue of $897.40 million for the quarter, compared to the consensus estimate of $904.17 million. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $1.60 earnings per share. On average, sell-side analysts forecast that Allegion plc will post 7.01 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.51%. The ex-dividend date is Thursday, June 13th. Allegion’s payout ratio is currently 31.37%.

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.