Y Intercept Hong Kong Ltd Sells 23,735 Shares of Allegion PLC $ALLE

Key Points

• Y Intercept Hong Kong Ltd sharply cut its Allegion stake in the first quarter, selling 23,735 shares and reducing its holdings by 78.8% to 6,401 shares worth about $930,000.
• Allegion reported Q1 EPS of $1.80, missing analysts’ estimate of $1.88, while revenue came in at $1.03 billion, in line with expectations and up 9.7% year over year.
• The company approved a $500 million share repurchase program and paid a quarterly dividend of $0.55 per share, equal to an annual yield of 1.6%.

Y Intercept Hong Kong Ltd reduced its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 78.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,401 shares of the scientific and technical instruments company's stock after selling 23,735 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Allegion were worth $930,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ALLE. Oregon Public Employees Retirement Fund increased its position in Allegion by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,817 shares of the scientific and technical instruments company's stock worth $1,563,000 after buying an additional 59 shares during the period. Diversify Advisory Services LLC lifted its holdings in shares of Allegion by 2.7% during the third quarter. Diversify Advisory Services LLC now owns 2,308 shares of the scientific and technical instruments company's stock worth $380,000 after buying an additional 60 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of Allegion by 4.1% in the fourth quarter. D.A. Davidson & CO. now owns 1,612 shares of the scientific and technical instruments company's stock valued at $257,000 after acquiring an additional 63 shares during the period. Banque de Luxembourg S.A. boosted its position in shares of Allegion by 0.3% in the fourth quarter. Banque de Luxembourg S.A. now owns 22,294 shares of the scientific and technical instruments company's stock valued at $3,550,000 after acquiring an additional 65 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in shares of Allegion by 45.9% in the fourth quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company's stock worth $34,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Buying and Selling

In other news, SVP Robert C. Martens sold 3,993 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $137.15, for a total transaction of $547,639.95. Following the sale, the senior vice president owned 8,570 shares in the company, valued at approximately $1,175,375.50. This represents a 31.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.64% of the company's stock.

Allegion Trading Up 0.2%

Shares of ALLE stock opened at $136.87 on Monday. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $183.11. The stock has a market cap of $11.76 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 2.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91. The firm has a fifty day moving average of $133.19 and a 200-day moving average of $148.11.

Allegion (NYSE:ALLE - Get Free Report) last posted 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). The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, equities research analysts forecast that Allegion PLC will post 8.74 earnings per share for the current fiscal year.

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

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.55 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.20 annualized dividend and a yield of 1.6%. Allegion's payout ratio is presently 30.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ALLE shares. Morgan Stanley dropped their target price on shares of Allegion from $165.00 to $142.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 3rd. Evercore raised shares of Allegion to a "strong-buy" rating in a report on Monday, April 13th. Bank of America decreased their price target on shares of Allegion from $185.00 to $157.00 and set a "neutral" rating on the stock in a research report on Monday, April 20th. Wells Fargo & Company dropped their price objective on shares of Allegion from $175.00 to $155.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 1st. Finally, Weiss Ratings lowered shares of Allegion from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Allegion has an average rating of "Hold" and an average target price of $160.89.

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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