Vanguard Group Inc. Has $1.69 Billion Position in Allegion PLC $ALLE

Key Points

• Vanguard Group slightly reduced its 4Q position but still holds a 12.33% stake in Allegion—10,606,483 shares valued at about $1.69 billion.
• Allegion missed Q earnings (EPS $1.80 vs. $1.88 expected) with revenue roughly in line, and the board unveiled a $500 million buyback (up to 3.9% of shares) while declaring a $0.55 quarterly dividend (≈1.6% yield).
• Analysts have trimmed price targets recently and the consensus rating is a Hold with an average target of $164.00.

Vanguard Group Inc. cut its stake in Allegion PLC (NYSE:ALLE - Free Report) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,606,483 shares of the scientific and technical instruments company's stock after selling 9,950 shares during the period. Vanguard Group Inc. owned 12.33% of Allegion worth $1,688,764,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its holdings in shares of 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 worth $25,000 after buying an additional 70 shares in the last quarter. First Horizon Corp bought a new position in shares of Allegion during the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. boosted its holdings in shares of Allegion by 120.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company's stock worth $26,000 after buying an additional 81 shares in the last quarter. Pinnacle Bancorp Inc. raised its position in shares of Allegion by 255.6% during the fourth 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. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Allegion during the third quarter worth approximately $29,000. 92.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Steven Mizell sold 1,000 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $161.51, for a total transaction of $161,510.00. Following the completion of the sale, the director directly owned 4,915 shares of the company's stock, valued at $793,821.65. This trade represents a 16.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sue Main bought 2,000 shares of the firm's stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average cost of $149.61 per share, with a total value of $299,220.00. Following the completion of the transaction, the director owned 2,000 shares in the company, valued at approximately $299,220. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Allegion in a research report on Wednesday, January 21st. Robert W. Baird set a $165.00 target price on Allegion in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on Allegion from $180.00 to $170.00 and set an "overweight" rating on the stock in a research report on Wednesday. Barclays lowered their target price on Allegion from $165.00 to $161.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company lowered their target price on Allegion from $175.00 to $155.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $164.00.

Allegion Trading Up 0.2%

NYSE ALLE opened at $137.68 on Friday. The firm has a market capitalization of $11.83 billion, a P/E ratio of 18.81, a PEG ratio of 2.58 and a beta of 1.02. The business has a fifty day simple moving average of $147.28 and a 200 day simple moving average of $159.49. Allegion PLC has a 12 month low of $134.67 and a 12 month high of $183.11. The company has a current ratio of 1.91, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 EPS 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 net margin of 15.24% and a return on equity of 35.41%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, analysts predict that Allegion PLC will post 8.75 EPS for the current fiscal year.

Allegion announced that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Allegion Announces Dividend

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 given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, June 15th. Allegion's dividend payout ratio is presently 29.57%.

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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