Los Angeles Capital Management LLC reduced its position in Allegion PLC (NYSE:ALLE – Free Report) by 14.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 168,000 shares of the scientific and technical instruments company’s stock after selling 28,942 shares during the period. Los Angeles Capital Management LLC’s holdings in Allegion were worth $27,769,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Allegion by 3.8% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171,903 shares of the scientific and technical instruments company’s stock valued at $30,487,000 after acquiring an additional 6,220 shares during the period. Assetmark Inc. raised its stake in Allegion by 22.9% in the 3rd quarter. Assetmark Inc. now owns 97,541 shares of the scientific and technical instruments company’s stock valued at $17,299,000 after acquiring an additional 18,165 shares during the period. JPMorgan Chase & Co. raised its stake in Allegion by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 942,212 shares of the scientific and technical instruments company’s stock valued at $167,104,000 after acquiring an additional 67,074 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Allegion by 8.7% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 179,323 shares of the scientific and technical instruments company’s stock valued at $31,368,000 after acquiring an additional 14,278 shares during the period. Finally, Kingsview Wealth Management LLC bought a new stake in Allegion in the 4th quarter valued at about $2,833,000. 92.21% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on ALLE. Bank of America lowered their price objective on Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Wells Fargo & Company lowered their price objective on Allegion from $175.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Evercore upgraded Allegion to a “strong-buy” rating in a research note on Monday, April 13th. Morgan Stanley decreased their price target on Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $150.00 price target (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $160.38.
Allegion Stock Down 0.3%
ALLE stock opened at $129.83 on Monday. The company has a current ratio of 1.91, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The company’s 50 day moving average is $137.43 and its 200 day moving average is $152.82. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.71 and a beta of 0.86. Allegion PLC has a 1-year low of $125.00 and a 1-year high of $183.11.
Allegion (NYSE:ALLE – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.08). The company had revenue of $1.03 billion during 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%.The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Sell-side analysts predict that Allegion PLC will post 8.73 EPS for the current fiscal year.
Allegion Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, June 15th. Allegion’s dividend payout ratio is 30.05%.
Allegion announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
Insider Activity at Allegion
In related news, Director Sue Main acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average cost of $149.61 per share, for a total transaction of $299,220.00. Following the completion of the transaction, the director owned 2,000 shares in the company, valued at approximately $299,220. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert C. Martens sold 3,993 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 8,570 shares in the company, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.64% of the stock is currently owned by corporate insiders.
Allegion Company 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 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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