Insider Selling: Allegion (NYSE:ALLE) SVP Sells 3,993 Shares of Stock

Key Points

• Allegion SVP Robert Martens sold 3,993 shares on May 7 at an average price of $137.15, for proceeds of about $547,640. After the sale, he still held 8,570 shares, a decrease of 31.78% in his position.
• The stock was down about 0.9% in Monday trading to $133.19, near its 12-month low of $131.22 and below both its 50-day and 200-day moving averages.
• Allegion recently missed quarterly EPS estimates but matched revenue expectations, and it also announced a $500 million share repurchase program plus a quarterly dividend of $0.55 per share.

Allegion PLC (NYSE:ALLE - Get Free Report) SVP Robert 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 completion of the transaction, the senior vice president directly owned 8,570 shares in the company, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Allegion Trading Down 0.9%

Allegion stock traded down $1.19 during midday trading on Monday, reaching $133.19. 234,216 shares of the stock traded hands, compared to its average volume of 951,253. The company has a 50-day simple moving average of $145.77 and a two-hundred day simple moving average of $158.38. Allegion PLC has a 12-month low of $131.22 and a 12-month high of $183.11. The firm has a market cap of $11.45 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89. The company has a current ratio of 1.91, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97.

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 analysts' consensus estimates of $1.88 by ($0.08). Allegion had a net margin of 15.24% and a return on equity of 35.41%. The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the business earned $1.86 earnings per share. The business's revenue was up 9.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Research analysts expect that Allegion PLC will post 8.73 earnings per share for the current fiscal year.

Allegion declared that its Board of Directors has approved a share repurchase plan 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 repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued 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%.

Institutional Investors Weigh In On Allegion

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Forvis Mazars Wealth Advisors LLC acquired a new position in Allegion during the third quarter worth approximately $2,838,000. Fusion Capital LLC purchased a new stake in shares of Allegion in the third quarter valued at approximately $4,406,000. Massachusetts Financial Services Co. MA grew its holdings in Allegion by 5.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,356,869 shares of the scientific and technical instruments company's stock worth $417,991,000 after acquiring an additional 113,821 shares during the period. National Pension Service grew its holdings in Allegion by 449.4% during the third quarter. National Pension Service now owns 7,785 shares of the scientific and technical instruments company's stock worth $1,381,000 after acquiring an additional 6,368 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Allegion by 3.8% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171,903 shares of the scientific and technical instruments company's stock worth $30,487,000 after acquiring an additional 6,220 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays reduced their price target on Allegion from $165.00 to $161.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 29th. Robert W. Baird set a $165.00 price target on Allegion in a research report on Wednesday, April 29th. Evercore raised Allegion to a "strong-buy" rating in a research report on Monday, April 13th. Weiss Ratings lowered Allegion from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company reduced their price target 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, two have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Allegion currently has an average rating of "Hold" and a consensus target price of $164.00.

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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