Bank of New York Mellon Corp Has $82.21 Million Position in Allegion PLC $ALLE

Bank of New York Mellon Corp cut its position in Allegion PLC (NYSE:ALLE - Free Report) by 16.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 516,311 shares of the scientific and technical instruments company's stock after selling 103,449 shares during the quarter. Bank of New York Mellon Corp owned 0.60% of Allegion worth $82,207,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Allegion by 3.8% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171,903 shares of the scientific and technical instruments company's stock worth $30,487,000 after purchasing an additional 6,220 shares in the last quarter. Assetmark Inc. increased its position in Allegion by 22.9% during the 3rd quarter. Assetmark Inc. now owns 97,541 shares of the scientific and technical instruments company's stock worth $17,299,000 after purchasing an additional 18,165 shares in the last quarter. JPMorgan Chase & Co. increased its position in Allegion by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 942,212 shares of the scientific and technical instruments company's stock worth $167,104,000 after purchasing an additional 67,074 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Allegion by 8.7% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 179,323 shares of the scientific and technical instruments company's stock worth $31,368,000 after purchasing an additional 14,278 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in Allegion during the 4th quarter worth approximately $2,833,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Evercore upgraded shares of Allegion to a "strong-buy" rating in a research report on Monday, April 13th. Weiss Ratings cut shares of Allegion from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 29th. Barclays decreased their price target on shares of Allegion from $165.00 to $161.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 29th. Wells Fargo & Company decreased their price target on shares of Allegion from $175.00 to $155.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 1st. Finally, Morgan Stanley decreased 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. One investment 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.com, Allegion has an average rating of "Hold" and a consensus target price of $160.38.

Insiders Place Their Bets

In related news, Director Sue Main bought 2,000 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average cost of $149.61 per share, with a total value of $299,220.00. Following the completion of the purchase, the director directly owned 2,000 shares in the company, valued at $299,220. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert C. Martens sold 3,993 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $137.15, for a total transaction of $547,639.95. Following the transaction, the senior vice president directly owned 8,570 shares in the company, valued at approximately $1,175,375.50. This represents a 31.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.64% of the company's stock.

Allegion Trading Down 2.0%

NYSE:ALLE opened at $127.57 on Tuesday. The firm's fifty day moving average is $137.07 and its 200-day moving average is $152.59. 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 PLC has a 52 week low of $125.00 and a 52 week high of $183.11. The firm has a market cap of $10.96 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.71 and a beta of 0.87.

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 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 firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company posted $1.86 earnings per share. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities analysts expect that Allegion PLC will post 8.73 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. Allegion's dividend payout ratio is currently 30.05%.

Allegion declared that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are 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.

Want to see what other hedge funds are holding ALLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegion PLC (NYSE:ALLE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.