Bank of Nova Scotia Purchases 6,594 Shares of Allegion PLC $ALLE

Bank of Nova Scotia grew its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 25.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,435 shares of the scientific and technical instruments company's stock after buying an additional 6,594 shares during the period. Bank of Nova Scotia's holdings in Allegion were worth $4,712,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ALLE. Oregon Public Employees Retirement Fund grew its holdings 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 purchasing an additional 59 shares in the last quarter. Diversify Advisory Services LLC raised its position in shares of Allegion by 2.7% during 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 acquiring an additional 60 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Allegion by 4.1% during the fourth 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 period. Banque de Luxembourg S.A. raised its position in shares of Allegion by 0.3% in the 4th quarter. Banque de Luxembourg S.A. now owns 22,294 shares of the scientific and technical instruments company's stock worth $3,550,000 after acquiring an additional 65 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake 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 valued at $34,000 after buying an additional 68 shares during the period. Institutional investors own 92.21% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on ALLE. Barclays dropped their price objective on shares of Allegion from $165.00 to $161.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings lowered Allegion from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 29th. Evercore upgraded Allegion to a "strong-buy" rating in a research note on Monday, April 13th. Morgan Stanley dropped their price target 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. Finally, Wells Fargo & Company cut their price target on Allegion from $175.00 to $155.00 and set an "equal weight" rating for the company in a report on Wednesday, April 1st. One equities 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 stock. According to data from MarketBeat.com, Allegion has a consensus rating of "Hold" and a consensus price target of $164.75.

Allegion Price Performance

Shares of ALLE opened at $158.24 on Tuesday. The firm's 50-day simple moving average is $135.40 and its two-hundred day simple moving average is $146.69. The stock has a market cap of $13.60 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 3.12 and a beta of 0.85. Allegion PLC has a fifty-two week low of $125.00 and a fifty-two week high of $183.11. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.93.

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

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

Insider Buying and Selling at Allegion

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the firm's stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.64% of the stock is currently owned by insiders.

Allegion Company 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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