Lazard Asset Management LLC decreased its stake in shares of Allegion PLC (NYSE:ALLE – Free Report) by 72.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 9,203 shares of the scientific and technical instruments company’s stock after selling 23,889 shares during the period. Lazard Asset Management LLC’s holdings in Allegion were worth $1,337,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. increased its position in Allegion by 255.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 115 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of Allegion during the second quarter worth approximately $33,000. Hantz Financial Services Inc. grew its stake in shares of Allegion by 45.9% during the fourth quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 68 shares during the last quarter. Bard Associates Inc. bought a new stake in shares of Allegion during the fourth quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Allegion in the third quarter valued at approximately $36,000. Institutional investors own 92.21% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on ALLE shares. Robert W. Baird set a $170.00 price objective on shares of Allegion in a research report on Friday, July 24th. Barclays decreased their price objective 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. JPMorgan Chase & Co. boosted their target price on Allegion from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Morgan Stanley cut their price target on Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Finally, Evercore upgraded Allegion to a “strong-buy” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $164.75.
Allegion Trading Up 2.4%
ALLE opened at $165.21 on Wednesday. The firm has a 50 day simple moving average of $139.04 and a 200 day simple moving average of $146.62. Allegion PLC has a fifty-two week low of $125.00 and a fifty-two week high of $183.11. The company has a market cap of $14.05 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 3.28 and a beta of 0.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.93 and a quick ratio of 1.23.
Allegion (NYSE:ALLE – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.12 billion. During the same period last year, the firm earned $2.04 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. On average, sell-side analysts anticipate that Allegion PLC will post 8.92 earnings per share for the current year.
Allegion announced that its Board of Directors has approved a share repurchase plan on Tuesday, April 28th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling
In other news, CAO Nickolas A. Musial sold 687 shares of the firm’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $155.00, for a total value of $106,485.00. Following the transaction, the chief accounting officer directly owned 6,798 shares in the company, valued at $1,053,690. This trade represents a 9.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael J. Wagnes sold 3,184 shares of Allegion stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $150.98, for a total value of $480,720.32. Following the sale, the chief financial officer directly owned 31,299 shares of the company’s stock, valued at approximately $4,725,523.02. This trade represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 14,281 shares of company stock worth $2,143,983. Company insiders own 0.64% of the company’s stock.
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 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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