Allegion PLC $ALLE Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers cut its Allegion stake by 25.3% in the first quarter, selling 10,534 shares and retaining 31,084 shares valued at approximately $4.5 million. Institutional investors and hedge funds collectively own 92.21% of Allegion.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $164.75. Recent ratings included one upgrade to “Buy,” alongside multiple target-price reductions.
• Allegion reported stronger-than-expected quarterly results, with $2.40 in EPS and $1.15 billion in revenue, while revenue rose 12.7% year over year. The company also authorized a $500 million share-repurchase program, although insiders have sold 14,281 shares worth about $2.14 million over the past three months.

Cetera Investment Advisers lowered its stake in Allegion PLC (NYSE:ALLE - Free Report) by 25.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,084 shares of the scientific and technical instruments company's stock after selling 10,534 shares during the period. Cetera Investment Advisers' holdings in Allegion were worth $4,516,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Oregon Public Employees Retirement Fund increased its position in shares of Allegion by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,817 shares of the scientific and technical instruments company's stock valued at $1,563,000 after acquiring an additional 59 shares during the period. Diversify Advisory Services LLC lifted its position in Allegion by 2.7% during the 3rd quarter. Diversify Advisory Services LLC now owns 2,308 shares of the scientific and technical instruments company's stock worth $380,000 after acquiring an additional 60 shares during the period. D.A. Davidson & CO. grew its stake in Allegion by 4.1% during the 4th quarter. D.A. Davidson & CO. now owns 1,612 shares of the scientific and technical instruments company's stock valued at $257,000 after purchasing an additional 63 shares during the last quarter. Banque de Luxembourg S.A. increased its holdings in shares of Allegion by 0.3% in the fourth quarter. Banque de Luxembourg S.A. now owns 22,294 shares of the scientific and technical instruments company's stock valued at $3,550,000 after purchasing an additional 65 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in shares of Allegion by 45.9% in the fourth quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company's stock valued at $34,000 after purchasing an additional 68 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALLE has been the subject of a number of research reports. Barclays decreased their target price on Allegion from $165.00 to $161.00 and set an "equal weight" rating for the company in a report on Wednesday, April 29th. Morgan Stanley reduced their price target 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, June 3rd. Longbow Research upgraded shares of Allegion from a "neutral" rating to a "buy" rating and set a $165.00 price objective for the company in a research note on Thursday, June 11th. JPMorgan Chase & Co. increased their price objective on shares of Allegion from $150.00 to $170.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Finally, Bank of America decreased their target price on shares of Allegion from $185.00 to $157.00 and set a "neutral" rating for the company in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Allegion presently has a consensus rating of "Hold" and an average price target of $164.75.

Insider Activity

In related news, CFO Michael J. Wagnes sold 3,184 shares of the firm's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $150.98, for a total transaction of $480,720.32. Following the sale, the chief financial officer owned 31,299 shares in the company, valued at approximately $4,725,523.02. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Robert C. Martens sold 3,993 shares of Allegion stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $137.15, for a total transaction of $547,639.95. Following the completion of the transaction, the senior vice president directly owned 8,570 shares of the company's stock, valued at $1,175,375.50. The trade was a 31.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 14,281 shares of company stock valued at $2,143,983. 0.64% of the stock is currently owned by corporate insiders.

Allegion Trading Up 2.7%

Shares of NYSE:ALLE opened at $161.67 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.23 and a debt-to-equity ratio of 0.96. Allegion PLC has a 12-month low of $125.00 and a 12-month high of $183.11. The business has a 50 day moving average of $138.37 and a two-hundred day moving average of $146.59. The company has a market capitalization of $13.75 billion, a PE ratio of 21.22, a PEG ratio of 3.20 and a beta of 0.84.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $2.22 by $0.18. The business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.12 billion. Allegion had a net margin of 15.36% and a return on equity of 35.41%. The business's revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $2.04 EPS. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. As a group, analysts forecast that Allegion PLC will post 8.92 EPS for the current year.

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

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.

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