Allegion PLC $ALLE Position Boosted by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its Allegion stake by 6.2% in the fourth quarter, bringing its holdings to 159,385 shares valued at about $25.4 million. Institutional investors now own 92.21% of Allegion’s stock.
• Analyst sentiment is mostly cautious, with a consensus rating of “Hold” and an average price target of $160.38. Recent actions were mixed, including target cuts from Morgan Stanley and Bank of America, while Evercore upgraded the stock to Strong Buy.
• Allegion missed quarterly earnings expectations, reporting $1.80 EPS versus the $1.88 forecast, though revenue rose 9.7% year over year to $1.03 billion. The company also announced a $0.55 quarterly dividend and authorized a $500 million share buyback program.

BNP Paribas Financial Markets lifted its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 159,385 shares of the scientific and technical instruments company's stock after purchasing an additional 9,372 shares during the period. BNP Paribas Financial Markets owned about 0.19% of Allegion worth $25,377,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ALLE. Boston Partners boosted its holdings in Allegion by 1.0% in the third quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company's stock worth $842,026,000 after purchasing an additional 48,199 shares during the period. State Street Corp boosted its position in shares of Allegion by 6.6% during the 3rd quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company's stock valued at $750,584,000 after purchasing an additional 260,973 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Allegion by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,693,831 shares of the scientific and technical instruments company's stock valued at $427,521,000 after purchasing an additional 13,880 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Allegion by 10.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,593,117 shares of the scientific and technical instruments company's stock valued at $412,876,000 after purchasing an additional 236,248 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Allegion by 4.5% during the 3rd quarter. Northern Trust Corp now owns 1,210,063 shares of the scientific and technical instruments company's stock valued at $214,605,000 after purchasing an additional 52,612 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Analysts Set New Price Targets

ALLE has been the subject of several research reports. Morgan Stanley reduced their price objective on shares of Allegion from $165.00 to $142.00 and set an "equal weight" rating for the company in a research report on Wednesday. Evercore upgraded shares of Allegion to a "strong-buy" rating in a report on Monday, April 13th. Robert W. Baird set a $165.00 price target on shares of Allegion in a report on Wednesday, April 29th. Bank of America reduced their target price on shares of Allegion from $185.00 to $157.00 and set a "neutral" rating for the company in a research note on Monday, April 20th. Finally, Weiss Ratings lowered shares of Allegion from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $160.38.

Insider Buying and Selling at Allegion

In related news, SVP Robert C. Martens sold 3,993 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $137.15, for a total transaction of $547,639.95. Following the transaction, the senior vice president owned 8,570 shares in the company, valued at $1,175,375.50. This represents a 31.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sue Main purchased 2,000 shares of Allegion stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average price of $149.61 per share, for a total transaction of $299,220.00. Following the transaction, the director owned 2,000 shares in the company, valued at $299,220. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.64% of the stock is currently owned by insiders.

Allegion Stock Up 0.2%

ALLE opened at $130.38 on Friday. Allegion PLC has a fifty-two week low of $125.00 and a fifty-two week high of $183.11. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.19. The firm's fifty day moving average price is $137.79 and its two-hundred day moving average price is $153.03. The company has a market capitalization of $11.20 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.70 and a beta of 0.86.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.08). Allegion had a return on equity of 35.41% and a net margin of 15.24%.The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. The firm's quarterly revenue was up 9.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, analysts anticipate that Allegion PLC will post 8.74 EPS for the current year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, June 15th. Allegion's payout ratio is currently 30.05%.

Allegion announced that its Board of Directors has authorized a stock buyback program on Tuesday, April 28th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the scientific and technical instruments company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

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.

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