Titan Investment Solutions Ltd Takes Position in Allegion PLC $ALLE

Key Points

• Titan Investment Solutions Ltd initiated a new position in Allegion, buying 34,329 shares in the fourth quarter worth about $5.47 million.
• Institutional interest in Allegion remains high, with 92.21% of the stock owned by institutions, while insider ownership is just 0.64%. Recent filings also showed several other funds increasing or starting positions.
• Allegion’s recent results were mixed: it missed EPS estimates for the quarter, but revenue matched expectations and rose 9.7% year over year. The company also announced a quarterly dividend of $0.55 and a $500 million share buyback program.

Titan Investment Solutions Ltd bought a new stake in shares of Allegion PLC (NYSE:ALLE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,329 shares of the scientific and technical instruments company's stock, valued at approximately $5,466,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Allegion by 3.8% during 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 buying an additional 6,220 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Allegion by 22.9% during the 3rd quarter. Assetmark Inc. now owns 97,541 shares of the scientific and technical instruments company's stock valued at $17,299,000 after buying an additional 18,165 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Allegion by 7.7% during the 3rd 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. lifted its stake in shares of Allegion by 8.7% during the 3rd 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 in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in shares of Allegion during the 4th quarter valued at approximately $2,833,000. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ALLE. Bank of America dropped their price target on shares of Allegion from $185.00 to $157.00 and set a "neutral" rating on the stock in a research note on Monday, April 20th. Evercore upgraded shares of Allegion to a "strong-buy" rating in a research note on Monday, April 13th. Morgan Stanley dropped their price target on shares of Allegion from $165.00 to $142.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. restated a "neutral" rating and set a $150.00 price target (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. Finally, Robert W. Baird set a $165.00 target price on shares of Allegion in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $160.89.

Insider Activity at Allegion

In other news, SVP Robert C. Martens sold 3,993 shares of the 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 transaction, the senior vice president owned 8,570 shares of the company's stock, 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 at this link. 0.64% of the stock is owned by insiders.

Allegion Stock Performance

NYSE ALLE opened at $133.95 on Friday. Allegion PLC has a 1 year low of $125.00 and a 1 year high of $183.11. 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 stock has a market capitalization of $11.51 billion, a PE ratio of 18.30, a P/E/G ratio of 2.78 and a beta of 0.86. The company's 50 day simple moving average is $136.11 and its two-hundred day simple moving average is $151.84.

Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (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 firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the prior year, the company earned $1.86 earnings per share. The business'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 predict 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. Stockholders of record on Monday, June 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend 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 declared that its Board of Directors has approved 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 buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

About Allegion

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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