Legal & General Group Plc trimmed its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 463,709 shares of the scientific and technical instruments company's stock after selling 33,007 shares during the quarter. Legal & General Group Plc owned 0.54% of Allegion worth $73,832,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westside Investment Management Inc. grew its stake in Allegion by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company's stock worth $25,000 after purchasing an additional 70 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Allegion by 120.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Pinnacle Bancorp Inc. grew its stake in Allegion by 255.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company's stock worth $25,000 after purchasing an additional 115 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in Allegion during the 3rd quarter worth $29,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Allegion during the 3rd quarter worth $36,000. 92.21% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently commented on ALLE shares. Bank of America lowered their target price on Allegion from $185.00 to $157.00 and set a "neutral" rating for the company in a research note on Monday, April 20th. Barclays lowered 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $150.00 price objective (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. Robert W. Baird set a $165.00 price objective on Allegion in a research report on Wednesday, April 29th. Finally, Weiss Ratings cut Allegion from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $161.50.
Get Our Latest Report on ALLE
Allegion Trading Down 0.8%
NYSE:ALLE opened at $130.33 on Friday. The stock has a 50-day simple moving average of $138.89 and a 200-day simple moving average of $154.12. The stock has a market cap of $11.20 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.73 and a beta of 0.89. Allegion PLC has a 1 year low of $125.00 and a 1 year high of $183.11. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91.
Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.08). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.The company's revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, analysts anticipate that Allegion PLC will post 8.74 earnings per share for the current fiscal year.
Allegion Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.7%. Allegion's dividend payout ratio is 30.05%.
Allegion announced that its Board of Directors has initiated a share repurchase plan on Tuesday, April 28th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.
Insider Transactions at Allegion
In other news, Director Sue Main bought 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average cost of $149.61 per share, with a total value of $299,220.00. Following the transaction, the director directly owned 2,000 shares in the company, valued at $299,220. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $547,639.95. Following the completion of the sale, the senior vice president directly owned 8,570 shares of the company's stock, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.64% of the stock is owned by corporate insiders.
Allegion Company Profile
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Free Report)
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.
See Also
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