Cooke & Bieler LP Sells 46,050 Shares of Allegion PLC $ALLE

Key Points

• Cooke & Bieler LP cut its Allegion stake by 9.5% in the fourth quarter, selling 46,050 shares and leaving it with 438,237 shares valued at about $69.8 million.
• Analyst sentiment on Allegion remains cautious: the stock has a consensus rating of Hold, with an average price target of $161.50 after several recent target cuts and rating changes.
• Allegion reported quarterly EPS of $1.80, missing expectations, while also announcing a $0.55 quarterly dividend and a $500 million share repurchase plan.

Cooke & Bieler LP trimmed its position in Allegion PLC (NYSE:ALLE - Free Report) by 9.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,237 shares of the scientific and technical instruments company's stock after selling 46,050 shares during the period. Cooke & Bieler LP owned approximately 0.51% of Allegion worth $69,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fusion Capital LLC bought a new position in shares of Allegion in the third quarter valued at $4,406,000. National Pension Service lifted its stake in shares of Allegion by 449.4% in the third quarter. National Pension Service now owns 7,785 shares of the scientific and technical instruments company's stock valued at $1,381,000 after buying an additional 6,368 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Allegion by 3.8% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171,903 shares of the scientific and technical instruments company's stock valued at $30,487,000 after buying an additional 6,220 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Allegion by 22.9% in the third quarter. Assetmark Inc. now owns 97,541 shares of the scientific and technical instruments company's stock valued at $17,299,000 after buying an additional 18,165 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Allegion by 16.2% in the third quarter. Truist Financial Corp now owns 74,244 shares of the scientific and technical instruments company's stock valued at $13,167,000 after buying an additional 10,367 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ALLE shares. Wells Fargo & Company dropped 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 note on Wednesday, April 1st. Robert W. Baird set a $165.00 price target on shares of Allegion in a research report on Wednesday, April 29th. Barclays dropped their price target on shares of Allegion from $165.00 to $161.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 29th. Weiss Ratings lowered shares of Allegion from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 1st. Finally, Evercore raised shares of Allegion to a "strong-buy" rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $161.50.

Insider Activity

In other Allegion news, Director Sue Main bought 2,000 shares of Allegion stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average price of $149.61 per share, for a total transaction of $299,220.00. Following the completion of the purchase, the director directly owned 2,000 shares of the company's stock, valued at approximately $299,220. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert C. Martens sold 3,993 shares of the business'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 transaction, the senior vice president directly owned 8,570 shares of the company's stock, valued at approximately $1,175,375.50. This represents a 31.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.64% of the stock is owned by company insiders.

Allegion Stock Performance

NYSE ALLE opened at $130.50 on Tuesday. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $183.11. The company has a 50-day simple moving average of $140.03 and a 200 day simple moving average of $155.01. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91. The company has a market capitalization of $11.21 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.71 and a beta of 0.89.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.88 by ($0.08). Allegion had a return on equity of 35.41% and a net margin of 15.24%.The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the business posted $1.86 EPS. The business's quarterly 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, research analysts predict that Allegion PLC will post 8.74 EPS for the current year.

Allegion Announces Dividend

The firm also recently announced 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. The ex-dividend date is Monday, June 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.7%. Allegion's dividend payout ratio (DPR) is presently 30.05%.

Allegion declared that its Board of Directors has approved a stock repurchase plan on Tuesday, April 28th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the scientific and technical instruments company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management 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.

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