Geode Capital Management LLC Increases Stock Holdings in Allegion PLC $ALLE

Key Points

• Geode Capital Management increased its stake in Allegion by 0.5% in the fourth quarter, ending with 2.69 million shares worth about $427.5 million.
• Wall Street sentiment on Allegion remains cautious: analysts have an average Hold rating and a consensus price target of $161.50, even as Evercore upgraded the stock to Strong Buy.
• Allegion reported quarterly EPS of $1.80, missing estimates, but revenue rose 9.7% year over year; the company also announced a $0.55 quarterly dividend and a $500 million share buyback program.

Geode Capital Management LLC boosted its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 0.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,693,831 shares of the scientific and technical instruments company's stock after acquiring an additional 13,880 shares during the quarter. Geode Capital Management LLC owned 3.13% of Allegion worth $427,521,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. boosted its stake in shares of Allegion by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company's stock valued at $25,000 after buying an additional 70 shares during the period. Pinnacle Bancorp Inc. boosted its stake in shares of Allegion by 255.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company's stock valued at $25,000 after buying an additional 115 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of Allegion by 120.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company's stock valued at $26,000 after buying an additional 81 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Allegion in the 3rd quarter valued at about $29,000. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Allegion in the 2nd quarter valued at about $33,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays decreased their price objective on Allegion from $165.00 to $161.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 29th. Bank of America decreased their price objective on Allegion from $185.00 to $157.00 and set a "neutral" rating for the company in a research note on Monday, April 20th. Evercore upgraded Allegion to a "strong-buy" rating in a research note on Monday, April 13th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $150.00 price objective (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. Finally, Weiss Ratings cut Allegion from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Allegion presently has an average rating of "Hold" and an average price target of $161.50.

Insider Activity at Allegion

In other Allegion news, Director Sue Main bought 2,000 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $299,220. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert C. Martens sold 3,993 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $137.15, for a total value 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 position. The SEC filing for this sale provides additional information. 0.64% of the stock is owned by insiders.

Allegion Price Performance

ALLE stock opened at $130.33 on Monday. The business has a 50 day moving average price of $138.89 and a 200 day moving average price of $154.03. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.70 and a beta of 0.87. Allegion PLC has a fifty-two week low of $125.00 and a fifty-two week high of $183.11. 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 (NYSE:ALLE - Get Free Report) last posted its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.08). The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.Allegion's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities research analysts anticipate that Allegion PLC will post 8.74 earnings per share for the current fiscal year.

Allegion Announces Dividend

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

Allegion declared that its board has approved a stock repurchase program on Tuesday, April 28th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to buy 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 stock is 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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