Lord Abbett & CO. LLC Reduces Holdings in Allegion PLC $ALLE

Key Points

• Lord Abbett & Co. cut its Allegion stake by 6.1% in the fourth quarter, selling 87,285 shares and leaving it with 1.34 million shares valued at about $213.1 million.
• Wall Street sentiment is cautious: several analysts lowered price targets, and the stock currently carries a consensus Hold rating with an average target price of $160.89.
• Allegion reported Q1 earnings of $1.80 per share, missing estimates, while revenue matched expectations at $1.03 billion. The company also announced a $0.55 quarterly dividend and authorized a $500 million share buyback.

Lord Abbett & CO. LLC trimmed its stake in Allegion PLC (NYSE:ALLE - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,338,250 shares of the scientific and technical instruments company's stock after selling 87,285 shares during the period. Lord Abbett & CO. LLC owned 1.56% of Allegion worth $213,076,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ALLE. Pinnacle Bancorp Inc. lifted its position 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 during the period. Hantz Financial Services Inc. lifted its position 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 worth $26,000 after purchasing an additional 81 shares during the period. CYBER HORNET ETFs LLC bought a new position in shares of Allegion in the 2nd quarter worth about $33,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Allegion in the 3rd quarter worth about $36,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Allegion in the 2nd quarter worth about $37,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALLE has been the subject of several research reports. Bank of America decreased their price target on shares of Allegion from $185.00 to $157.00 and set a "neutral" rating for the company in a research note on Monday, April 20th. Weiss Ratings lowered shares of Allegion from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 29th. Morgan Stanley decreased their price target on shares of Allegion from $165.00 to $142.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 3rd. Longbow Research upgraded shares of Allegion from a "neutral" rating to a "buy" rating and set a $165.00 price target for the company in a research note on Thursday. Finally, Barclays decreased their price target on shares of Allegion from $165.00 to $161.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $160.89.

Allegion Stock Up 0.2%

NYSE:ALLE opened at $133.95 on Friday. The firm has a market cap of $11.51 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.78 and a beta of 0.86. 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 firm has a 50-day simple moving average of $136.11 and a two-hundred day simple moving average of $151.84.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.08). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Allegion had a net margin of 15.24% and a return on equity of 35.41%. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Analysts predict that Allegion PLC will post 8.73 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company 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 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, June 15th. Allegion's dividend payout ratio (DPR) is currently 30.05%.

Allegion announced that its board has authorized a share 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 purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were 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 approximately $1,175,375.50. This trade represents a 31.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.64% of the company's stock.

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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