Y Intercept Hong Kong Ltd trimmed its position in Allegion PLC (NYSE:ALLE – Free Report) by 78.8% during the first quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its position in shares of Allegion by 0.6% during the fourth 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 acquiring an additional 59 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in Allegion by 2.7% in the third quarter. Diversify Advisory Services LLC now owns 2,308 shares of the scientific and technical instruments company’s stock valued at $380,000 after acquiring an additional 60 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in 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 last quarter. Banque de Luxembourg S.A. increased its position in 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 worth $3,550,000 after purchasing an additional 65 shares during the period. Finally, Hantz Financial Services Inc. increased its position in 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 purchasing an additional 68 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Allegion
In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $137.15, for a total transaction of $547,639.95. Following the transaction, the senior vice president owned 8,570 shares in the company, valued at $1,175,375.50. This represents a 31.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by corporate insiders.
Allegion Stock Up 0.2%
Allegion (NYSE:ALLE – Get Free Report) last announced its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (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 business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $1.86 EPS. The company’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. On average, equities analysts anticipate that Allegion PLC will post 8.74 earnings per share for the current year.
Allegion announced that its Board of Directors has initiated a share buyback 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 usually a sign that the company’s board of directors believes its stock is 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 issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. Allegion’s payout ratio is currently 30.05%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on ALLE. Robert W. Baird set a $165.00 price objective on shares of Allegion in a research note on Wednesday, April 29th. Weiss Ratings lowered Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $150.00 target price (down from $170.00) on shares of Allegion in a report on Friday, May 15th. Bank of America cut their target price on Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Finally, Morgan Stanley lowered their price objective on shares of Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Allegion has an average rating of “Hold” and an average price target of $160.89.
Get Our Latest Analysis on Allegion
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 headÂquartered 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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