Fideuram Asset Management Ireland dac Takes Position in Allegion PLC $ALLE

Key Points

• Fideuram Asset Management Ireland dac disclosed a new fourth-quarter stake in Allegion, buying 7,678 shares valued at about $1.22 million.
• Allegion reported Q1 EPS of $1.80, missing analyst expectations of $1.88, while revenue of $1.03 billion matched estimates and rose 9.7% year over year.
• The company authorized a $500 million share repurchase program and announced a quarterly dividend of $0.55 per share, equal to a 1.7% annualized yield.

Fideuram Asset Management Ireland dac bought a new stake in Allegion PLC (NYSE:ALLE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,678 shares of the scientific and technical instruments company's stock, valued at approximately $1,222,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fusion Capital LLC purchased a new position in Allegion in the 3rd quarter worth about $4,406,000. National Pension Service increased its stake in Allegion by 449.4% in the 3rd quarter. National Pension Service now owns 7,785 shares of the scientific and technical instruments company's stock worth $1,381,000 after buying an additional 6,368 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Allegion by 3.8% in 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 buying an additional 6,220 shares during the period. Assetmark Inc. increased its stake in Allegion by 22.9% in the 3rd quarter. Assetmark Inc. now owns 97,541 shares of the scientific and technical instruments company's stock worth $17,299,000 after buying an additional 18,165 shares during the period. Finally, Truist Financial Corp increased its stake in Allegion by 16.2% in the 3rd quarter. Truist Financial Corp now owns 74,244 shares of the scientific and technical instruments company's stock worth $13,167,000 after buying an additional 10,367 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Stock Down 0.8%

ALLE stock opened at $130.33 on Friday. The firm has a 50 day moving average of $138.89 and a 200 day moving average of $154.12. The stock has a market capitalization of $11.20 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89. The company has a quick ratio of 1.19, a current ratio of 1.91 and a debt-to-equity ratio of 0.97. Allegion PLC has a 52 week low of $125.00 and a 52 week high of $183.11.

Allegion (NYSE:ALLE - Get Free Report) last released its 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). The company had revenue of $1.03 billion during 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 firm's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Sell-side analysts forecast that Allegion PLC will post 8.74 earnings per share for the current year.

Allegion announced that its Board of Directors has approved a stock repurchase 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 purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, June 15th. Allegion's payout ratio is presently 30.05%.

Insider Activity at Allegion

In other Allegion news, Director Sue Main acquired 2,000 shares of the firm's stock in a transaction on Wednesday, March 11th. The stock was acquired at an average cost of $149.61 per share, for a total transaction of $299,220.00. Following the purchase, the director owned 2,000 shares in the company, valued at approximately $299,220. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert C. Martens sold 3,993 shares of Allegion 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 of the company's stock, valued at approximately $1,175,375.50. The trade was a 31.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company cut their target price 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. Robert W. Baird set a $165.00 target price on shares of Allegion in a research report on Wednesday, April 29th. Evercore raised shares of Allegion to a "strong-buy" rating in a research report on Monday, April 13th. Barclays cut their target price 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. Finally, Bank of America lowered their price target on shares of Allegion from $185.00 to $157.00 and set a "neutral" rating on the stock in a report on Monday, April 20th. One equities research 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $161.50.

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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