Assenagon Asset Management S.A. Sells 125,073 Shares of Allegion PLC $ALLE

Key Points

• Assenagon Asset Management sharply reduced its Allegion stake in the first quarter, selling 125,073 shares and cutting its position by 96.7% to just 4,297 shares valued at about $624,000.
• Allegion reported Q1 earnings of $1.80 per share, which missed analysts’ $1.88 estimate, though revenue came in line at $1.03 billion and rose 9.7% year over year.
• The company authorized a $500 million share buyback and paid a quarterly dividend of $0.55 per share, equal to an annualized yield of about 1.6%.

Assenagon Asset Management S.A. lowered its position in Allegion PLC (NYSE:ALLE - Free Report) by 96.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,297 shares of the scientific and technical instruments company's stock after selling 125,073 shares during the period. Assenagon Asset Management S.A.'s holdings in Allegion were worth $624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALLE. Oregon Public Employees Retirement Fund lifted its position in shares of Allegion by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,817 shares of the scientific and technical instruments company's stock worth $1,563,000 after buying an additional 59 shares in the last quarter. Diversify Advisory Services LLC boosted its position in Allegion by 2.7% in the third quarter. Diversify Advisory Services LLC now owns 2,308 shares of the scientific and technical instruments company's stock worth $380,000 after purchasing an additional 60 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Allegion by 4.1% in the 4th quarter. D.A. Davidson & CO. now owns 1,612 shares of the scientific and technical instruments company's stock worth $257,000 after buying an additional 63 shares during the last quarter. Banque de Luxembourg S.A. grew its position in Allegion by 0.3% during 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 buying an additional 65 shares during the period. Finally, Hantz Financial Services Inc. raised its position in 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 worth $34,000 after acquiring an additional 68 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Performance

NYSE:ALLE opened at $140.72 on Friday. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.91 and a beta of 0.85. The business has a 50 day moving average of $133.89 and a 200 day moving average of $149.07. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.19. Allegion PLC has a 1-year low of $125.00 and a 1-year high of $183.11.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.08). Allegion had a net margin of 15.24% and a return on equity of 35.41%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $1.86 earnings per share. The firm's 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, sell-side analysts predict that Allegion PLC will post 8.73 earnings per share for the current fiscal year.

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

Allegion Announces Dividend

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

Insiders Place Their Bets

In other Allegion 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 completion of the sale, the senior vice president directly owned 8,570 shares in the company, valued at $1,175,375.50. This represents a 31.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on ALLE shares. Weiss Ratings downgraded Allegion from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 29th. Evercore upgraded Allegion to a "strong-buy" rating in a research note on Monday, April 13th. Barclays dropped their price target 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. reissued a "neutral" rating and set a $150.00 price objective (down from $170.00) on shares of Allegion in a report on Friday, May 15th. Finally, Wells Fargo & Company decreased their price objective on shares of Allegion from $175.00 to $155.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 1st. One 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 stock. According to data from MarketBeat.com, Allegion currently has an average rating of "Hold" and an average price target of $160.89.

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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