Burney Co. trimmed its holdings in Allegion PLC (NYSE:ALLE – Free Report) by 40.4% during the first quarter, Holdings Channel.com reports. The fund owned 7,537 shares of the scientific and technical instruments company’s stock after selling 5,103 shares during the period. Burney Co.’s holdings in Allegion were worth $1,095,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALLE. Swedbank AB lifted its holdings in shares of Allegion by 2.0% in the first quarter. Swedbank AB now owns 78,122 shares of the scientific and technical instruments company’s stock valued at $11,350,000 after purchasing an additional 1,542 shares in the last quarter. Praxis Investment Management Inc. increased its stake in shares of Allegion by 37.2% during the 1st quarter. Praxis Investment Management Inc. now owns 1,852 shares of the scientific and technical instruments company’s stock worth $269,000 after purchasing an additional 502 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Allegion by 10.9% during the 1st quarter. V Square Quantitative Management LLC now owns 3,655 shares of the scientific and technical instruments company’s stock worth $531,000 after purchasing an additional 358 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Allegion by 10.0% during the 1st quarter. QRG Capital Management Inc. now owns 26,923 shares of the scientific and technical instruments company’s stock worth $3,912,000 after purchasing an additional 2,450 shares during the last quarter. Finally, IRON Financial LLC purchased a new stake in Allegion in the 1st quarter valued at approximately $200,000. Institutional investors and hedge funds own 92.21% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Morgan Stanley dropped their price target on Allegion from $165.00 to $142.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. Bank of America dropped their price objective on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Longbow Research raised Allegion from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a research report on Thursday, June 11th. JPMorgan Chase & Co. reissued 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. Finally, Barclays dropped their price target on Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $160.89.
Allegion Stock Down 3.0%
Shares of NYSE ALLE opened at $135.18 on Thursday. Allegion PLC has a 12-month low of $125.00 and a 12-month high of $183.11. The company has a market cap of $11.62 billion, a P/E ratio of 18.47, a P/E/G ratio of 2.90 and a beta of 0.85. 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 stock has a fifty day moving average price of $133.26 and a 200 day moving average price of $148.45.
Allegion (NYSE:ALLE – Get Free Report) last issued its quarterly earnings data 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 return on equity of 35.41% and a net margin of 15.24%.The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. The company’s revenue for the quarter 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 anticipate that Allegion PLC will post 8.73 EPS for the current fiscal year.
Allegion Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 15th. Allegion’s dividend payout ratio (DPR) is presently 30.05%.
Allegion declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling
In related news, SVP Robert C. Martens sold 3,993 shares of the business’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 transaction, the senior vice president directly owned 8,570 shares of the company’s stock, valued at approximately $1,175,375.50. The trade was a 31.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.64% of the company’s stock.
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 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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