Los Angeles Capital Management LLC Sells 28,942 Shares of Allegion PLC $ALLE

Key Points

• Los Angeles Capital Management reduced its Allegion stake by 14.7% in the fourth quarter, selling 28,942 shares and ending with 168,000 shares worth about $27.8 million.
• Allegion reported Q1 earnings of $1.80 per share, below the $1.88 consensus estimate, while revenue of $1.03 billion matched expectations and rose 9.7% from a year earlier.
• The company announced a quarterly dividend of $0.55 per share and authorized a $500 million share repurchase program; Wall Street currently rates the stock a consensus Hold with an average target price of $160.38.

Los Angeles Capital Management LLC lessened its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,000 shares of the scientific and technical instruments company's stock after selling 28,942 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.20% of Allegion worth $27,769,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position 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 valued at $30,487,000 after purchasing an additional 6,220 shares during the period. Assetmark Inc. raised its holdings in Allegion by 22.9% during the third 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 last quarter. JPMorgan Chase & Co. lifted its stake in shares of Allegion by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 942,212 shares of the scientific and technical instruments company's stock valued at $167,104,000 after buying an additional 67,074 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Allegion by 8.7% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 179,323 shares of the scientific and technical instruments company's stock valued at $31,368,000 after buying an additional 14,278 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Allegion during the fourth quarter valued at about $2,833,000. Institutional investors own 92.21% of the company's stock.

Allegion Price Performance

ALLE opened at $129.83 on Monday. 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 company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 2.71 and a beta of 0.86. The firm's fifty day moving average price is $137.43 and its two-hundred day moving average price is $152.82. Allegion PLC has a 1 year low of $125.00 and a 1 year high of $183.11.

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 earnings per share 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 analysts' expectations of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.Allegion's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, analysts anticipate that Allegion PLC will post 8.73 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. Allegion's payout ratio is 30.05%.

Allegion declared that its Board of Directors has authorized a share buyback program on Tuesday, April 28th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Allegion from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 29th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $150.00 price objective (down from $170.00) on shares of Allegion in a report on Friday, May 15th. Evercore upgraded shares of Allegion to a "strong-buy" rating in a report on Monday, April 13th. Robert W. Baird set a $165.00 price objective on shares of Allegion in a report on Wednesday, April 29th. Finally, Barclays reduced their price objective on shares of Allegion from $165.00 to $161.00 and set an "equal weight" rating for the company in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Allegion currently has a consensus rating of "Hold" and an average target price of $160.38.

Insider Transactions at Allegion

In related news, Director Sue Main purchased 2,000 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average cost of $149.61 per share, with a total value of $299,220.00. Following the acquisition, the director owned 2,000 shares of the company's stock, valued at $299,220. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert C. Martens sold 3,993 shares of the business's stock in a transaction dated 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 transaction, the senior vice president directly owned 8,570 shares in the company, valued at $1,175,375.50. This trade represents a 31.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.64% of the stock is currently owned by insiders.

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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