Goldman Sachs Group Inc. Has $107.23 Million Stock Holdings in Allegion PLC $ALLE

Key Points

• Goldman Sachs increased its Allegion stake by 26.8% in the fourth quarter, buying 142,258 additional shares and lifting its holdings to 673,495 shares worth about $107.2 million.
• Allegion reported Q1 earnings of $1.80 per share, missing analyst estimates by $0.08, while revenue came in at $1.03 billion and rose 9.7% year over year.
• The company also authorized a $500 million share repurchase program and declared a quarterly dividend of $0.55 per share, implying a 1.7% annualized yield.

Goldman Sachs Group Inc. raised its position in Allegion PLC (NYSE:ALLE - Free Report) by 26.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 673,495 shares of the scientific and technical instruments company's stock after buying an additional 142,258 shares during the quarter. Goldman Sachs Group Inc. owned 0.78% of Allegion worth $107,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its holdings in 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 in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Allegion by 120.9% during 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 acquiring an additional 81 shares during the period. CYBER HORNET ETFs LLC bought a new stake in shares of Allegion during the 2nd quarter valued at $33,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Allegion during the 3rd quarter valued at $36,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Allegion during the 2nd quarter valued at $37,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Performance

NYSE:ALLE opened at $131.06 on Wednesday. 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 fifty-two week low of $125.00 and a fifty-two week high of $183.11. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.65 and a beta of 0.86. The stock has a fifty day moving average price of $136.80 and a 200-day moving average price of $152.38.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings data 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). Allegion had a return on equity of 35.41% and a net margin of 15.24%.The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $1.86 earnings per share. Allegion's quarterly revenue was up 9.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, equities analysts anticipate that Allegion PLC will post 8.73 EPS for the current fiscal year.

Allegion announced that its Board of Directors has authorized a stock repurchase program 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 programs are often an indication that the company's leadership believes its shares are undervalued.

Allegion Dividend Announcement

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

Insider Buying and Selling at Allegion

In related news, SVP Robert C. Martens sold 3,993 shares of the company's 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 completion of the sale, the senior vice president directly owned 8,570 shares in the company, valued at $1,175,375.50. This represents a 31.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on ALLE shares. Wells Fargo & Company cut their target price on Allegion from $175.00 to $155.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 1st. Bank of America cut their target price on Allegion from $185.00 to $157.00 and set a "neutral" rating for the company in a research report on Monday, April 20th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $150.00 target price (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. Robert W. Baird set a $165.00 target price on Allegion in a research report on Wednesday, April 29th. Finally, Morgan Stanley cut their target price on 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 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.com, the company has an average rating of "Hold" and an average target price of $160.38.

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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