Allegion PLC $ALLE Shares Bought by Strs Ohio

Key Points

• Strs Ohio increased its stake in Allegion by 18.2% in the first quarter, buying 19,997 additional shares and bringing its total holding to 129,858 shares worth about $18.9 million.
• Allegion reported Q1 earnings of $1.80 per share, missing analyst expectations, while revenue came in at $1.03 billion and rose 9.7% year over year.
• The company authorized a $500 million share buyback and recently paid a quarterly dividend of $0.55 per share, implying a 1.6% annual yield.

Strs Ohio lifted its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 18.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,858 shares of the scientific and technical instruments company's stock after purchasing an additional 19,997 shares during the quarter. Strs Ohio owned 0.15% of Allegion worth $18,867,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ALLE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Allegion by 7.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,592 shares of the scientific and technical instruments company's stock worth $1,251,000 after buying an additional 626 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Allegion by 35.3% in the first quarter. NewEdge Advisors LLC now owns 3,272 shares of the scientific and technical instruments company's stock worth $427,000 after acquiring an additional 854 shares during the period. Jones Financial Companies Lllp raised its position in shares of Allegion by 44.2% in the first quarter. Jones Financial Companies Lllp now owns 1,629 shares of the scientific and technical instruments company's stock worth $213,000 after acquiring an additional 499 shares during the period. Empowered Funds LLC boosted its stake in shares of Allegion by 13.0% during the 1st quarter. Empowered Funds LLC now owns 5,673 shares of the scientific and technical instruments company's stock worth $740,000 after acquiring an additional 651 shares in the last quarter. Finally, Focus Partners Wealth boosted its stake in shares of Allegion by 204.5% during the 1st quarter. Focus Partners Wealth now owns 7,186 shares of the scientific and technical instruments company's stock worth $937,000 after acquiring an additional 4,826 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $137.15, for a total value of $547,639.95. Following the transaction, the senior vice president owned 8,570 shares in the company, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ALLE shares. Weiss Ratings lowered Allegion from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 29th. Robert W. Baird set a $165.00 price objective on Allegion in a report on Wednesday, April 29th. Wells Fargo & Company cut their price objective on Allegion from $175.00 to $155.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 1st. Barclays cut their price objective on Allegion from $165.00 to $161.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 29th. Finally, Morgan Stanley decreased their target price on Allegion from $165.00 to $142.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $160.89.

Allegion Stock Up 0.1%

ALLE opened at $140.72 on Friday. The company has a market cap of $12.09 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.92 and a beta of 0.85. Allegion PLC has a twelve month low of $125.00 and a twelve month high of $183.11. The company has a 50-day moving average price of $133.81 and a 200 day moving average price of $149.02. The company has a quick ratio of 1.19, a current ratio of 1.91 and a debt-to-equity ratio of 0.97.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.08). The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.Allegion's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Sell-side analysts expect that Allegion PLC will post 8.73 earnings per share for the current fiscal year.

Allegion declared that its board has authorized a share repurchase program on Tuesday, April 28th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 15th. Allegion's dividend payout ratio is currently 30.05%.

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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