Renaissance Technologies LLC cut its holdings in shares of Allegion PLC (NYSE:ALLE – Free Report) by 53.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,100 shares of the scientific and technical instruments company’s stock after selling 123,300 shares during the period. Renaissance Technologies LLC’s holdings in Allegion were worth $15,851,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of ALLE. Kingsview Wealth Management LLC bought a new stake in Allegion during the 4th quarter worth approximately $2,833,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Allegion by 5.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 181,501 shares of the scientific and technical instruments company’s stock worth $29,205,000 after buying an additional 9,598 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Allegion by 793.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 45,002 shares of the scientific and technical instruments company’s stock valued at $7,165,000 after buying an additional 39,964 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Allegion by 50.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,115 shares of the scientific and technical instruments company’s stock valued at $3,683,000 after buying an additional 7,776 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Allegion by 191.8% in the fourth quarter. Panagora Asset Management Inc. now owns 624,297 shares of the scientific and technical instruments company’s stock valued at $99,401,000 after buying an additional 410,346 shares during the period. 92.21% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, CFO Michael J. Wagnes sold 3,184 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $150.98, for a total value of $480,720.32. Following the completion of the transaction, the chief financial officer owned 31,299 shares in the company, valued at $4,725,523.02. This trade represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Robert C. Martens sold 3,993 shares of Allegion stock in a transaction dated 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 sale, the senior vice president directly owned 8,570 shares in the company, valued at approximately $1,175,375.50. This represents a 31.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,281 shares of company stock worth $2,143,983 over the last 90 days. 0.64% of the stock is currently owned by insiders.
Analyst Ratings Changes
Get Our Latest Analysis on Allegion
Allegion Stock Performance
Shares of ALLE opened at $157.66 on Friday. The stock has a market capitalization of $13.41 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 3.19 and a beta of 0.85. Allegion PLC has a 12 month low of $125.00 and a 12 month high of $183.11. The firm has a fifty day simple moving average of $137.75 and a 200 day simple moving average of $146.70. The company has a current ratio of 1.93, a quick ratio of 1.23 and a debt-to-equity ratio of 0.96.
Allegion (NYSE:ALLE – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 35.41%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business earned $2.04 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. Research analysts forecast that Allegion PLC will post 8.92 EPS for the current fiscal year.
Allegion declared that its board has authorized a stock 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 generally a sign that the company’s leadership 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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