Diversified Management Inc. decreased its position in shares of Allegion PLC (NYSE:ALLE – Free Report) by 87.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,015 shares of the scientific and technical instruments company’s stock after selling 14,076 shares during the period. Diversified Management Inc.’s holdings in Allegion were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in ALLE. Kingsview Wealth Management LLC bought a new stake in Allegion during the 4th quarter valued at $2,833,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of 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 purchasing an additional 9,598 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Allegion by 793.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 45,002 shares of the scientific and technical instruments company’s stock worth $7,165,000 after purchasing an additional 39,964 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Allegion by 50.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 23,115 shares of the scientific and technical instruments company’s stock worth $3,683,000 after purchasing an additional 7,776 shares in the last quarter. Finally, National Pension Service grew its stake in Allegion by 145.0% during the 4th quarter. National Pension Service now owns 19,072 shares of the scientific and technical instruments company’s stock worth $3,037,000 after buying an additional 11,287 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on ALLE shares. Morgan Stanley decreased their price target on Allegion from $165.00 to $142.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. Barclays dropped their price target on Allegion from $165.00 to $161.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings raised shares of Allegion from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Bank of America lowered their target price 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. Finally, Robert W. Baird set a $170.00 target price on shares of Allegion in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $164.75.
Allegion Stock Performance
Shares of ALLE opened at $166.06 on Thursday. The stock has a 50-day moving average of $143.50 and a two-hundred day moving average of $146.74. Allegion PLC has a one year low of $125.00 and a one year high of $183.11. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.93. The stock has a market cap of $14.12 billion, a P/E ratio of 21.79, a P/E/G ratio of 3.42 and a beta of 0.84.
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 for the quarter, beating analysts’ consensus estimates of $2.22 by $0.18. Allegion had a return on equity of 35.41% and a net margin of 15.36%.The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the company earned $2.04 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. As a group, research analysts predict that Allegion PLC will post 8.93 EPS for the current year.
Allegion announced that its Board of Directors has authorized a stock repurchase 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 repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Insider Buying and Selling at Allegion
In related news, SVP Timothy P. Eckersley sold 6,417 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $157.26, for a total value of $1,009,137.42. Following the transaction, the senior vice president owned 29,919 shares in the company, valued at approximately $4,705,061.94. This represents a 17.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vincent Wenos sold 1,000 shares of Allegion stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $168.25, for a total transaction of $168,250.00. Following the sale, the senior vice president owned 12,096 shares of the company’s stock, valued at approximately $2,035,152. The trade was a 7.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,288 shares of company stock worth $1,764,593 in the last 90 days. Corporate insiders own 0.64% of the company’s stock.
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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