Goodman Advisory Group LLC Makes New Investment in Allegion PLC $ALLE

Key Points

• Goodman Advisory Group LLC opened a new position in Allegion during the first quarter, buying 15,935 shares valued at about $2.3 million.
• Allegion reported quarterly earnings of $1.80 per share, missing estimates, while revenue came in at $1.03 billion and rose 9.7% year over year. The company also authorized a $500 million share buyback.
• Analyst sentiment remains cautious overall: Allegion has a consensus rating of “Hold” with an average price target of $160.89, though a few firms recently upgraded or reiterated more bullish views.

Goodman Advisory Group LLC purchased a new stake in Allegion PLC (NYSE:ALLE - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 15,935 shares of the scientific and technical instruments company's stock, valued at approximately $2,315,000.

Other large investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. raised its holdings 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 worth $25,000 after purchasing an additional 115 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Allegion during the third quarter valued at approximately $36,000. Hantz Financial Services Inc. boosted its holdings in Allegion by 45.9% during the fourth quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company's stock worth $34,000 after buying an additional 68 shares in the last quarter. Bard Associates Inc. acquired a new position in Allegion in the fourth quarter worth approximately $35,000. Finally, CYBER HORNET ETFs LLC acquired a new position in Allegion in the second quarter worth approximately $33,000. Institutional investors own 92.21% of the company's stock.

Insider Activity at Allegion

In other news, SVP Robert C. Martens sold 3,993 shares of Allegion 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 transaction, the senior vice president owned 8,570 shares in the company, valued at approximately $1,175,375.50. The trade was a 31.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ALLE has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $150.00 price objective (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. Longbow Research upgraded Allegion from a "neutral" rating to a "buy" rating and set a $165.00 target price on the stock in a report on Thursday, June 11th. Morgan Stanley cut their target price 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. Evercore raised Allegion to a "strong-buy" rating in a report on Monday, April 13th. Finally, Bank of America decreased their price target on Allegion from $185.00 to $157.00 and set a "neutral" rating for the company in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Allegion presently has an average rating of "Hold" and a consensus target price of $160.89.

Allegion Stock Up 2.1%

ALLE stock opened at $139.94 on Friday. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $183.11. The company's 50 day simple moving average is $134.18 and its 200-day simple moving average is $149.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.19. The firm has a market capitalization of $12.03 billion, a P/E ratio of 19.12, a P/E/G ratio of 2.91 and a beta of 0.86.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.08). Allegion had a net margin of 15.24% and a return on equity of 35.41%. The firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the company posted $1.86 EPS. The firm's 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 research analysts anticipate that Allegion PLC will post 8.73 EPS for the current year.

Allegion announced that its Board of Directors has approved a share buyback 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 a sign that the company's management believes its stock is undervalued.

Allegion Dividend Announcement

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 issued a $0.55 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. Allegion's dividend payout ratio is presently 30.05%.

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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