Norges Bank Takes Position in Allegion PLC $ALLE

Key Points

• Norges Bank established a new position in Allegion, buying 826,043 shares valued at about $131.5 million and owning 0.96% of the company at quarter-end.
• Allegion’s latest earnings missed EPS estimates, reporting $1.80 versus $1.88 expected, while revenue came in line at $1.03 billion and rose 9.7% year over year.
• The company remains shareholder-friendly, announcing a quarterly dividend of $0.55 per share and authorizing a $500 million stock buyback program.

Norges Bank bought a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 826,043 shares of the scientific and technical instruments company's stock, valued at approximately $131,523,000. Norges Bank owned 0.96% of Allegion at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Westside Investment Management Inc. lifted its holdings in Allegion by 100.0% during 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 purchasing an additional 70 shares during the last quarter. Pinnacle Bancorp Inc. increased its holdings in shares of Allegion by 255.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company's stock valued at $25,000 after purchasing an additional 115 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Allegion by 120.9% in the third quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company's stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Allegion in the third quarter valued at about $29,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Allegion during the 2nd quarter worth about $33,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ALLE shares. Weiss Ratings downgraded shares of Allegion from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 29th. Morgan Stanley lowered their price target on shares of Allegion from $165.00 to $142.00 and set an "equal weight" rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their price objective on Allegion from $175.00 to $155.00 and set an "equal weight" rating for the company in a report on Wednesday, April 1st. Robert W. Baird set a $165.00 target price on Allegion in a research report on Wednesday, April 29th. Finally, 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 note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $160.38.

Allegion Stock Performance

NYSE ALLE opened at $130.38 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.91 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $11.20 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.70 and a beta of 0.86. Allegion PLC has a 12-month low of $125.00 and a 12-month high of $183.11. The firm has a 50-day moving average price of $137.79 and a two-hundred day moving average price of $153.03.

Allegion (NYSE:ALLE - Get Free Report) last announced its 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 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 period in the prior year, the business posted $1.86 earnings per share. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Analysts anticipate that Allegion PLC will post 8.74 earnings per share for the current year.

Allegion Dividend Announcement

The business 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 1.7%. The ex-dividend date is Monday, June 15th. Allegion's dividend payout ratio (DPR) is 30.05%.

Allegion announced that its board has authorized a stock buyback program 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 buy up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Allegion

In related news, Director Sue Main acquired 2,000 shares of the company's stock in a transaction on Wednesday, March 11th. The stock was purchased at an average cost of $149.61 per share, with a total value of $299,220.00. Following the acquisition, the director directly owned 2,000 shares of the company's stock, valued at approximately $299,220. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert C. Martens sold 3,993 shares of the company's stock in a transaction on Thursday, May 7th. The shares were 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.64% of the stock is owned by insiders.

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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