Allegion PLC $ALLE Shares Sold by DNB Asset Management AS

DNB Asset Management AS lessened its holdings in shares of Allegion PLC (NYSE:ALLE) by 16.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 23,962 shares of the scientific and technical instruments company’s stock after selling 4,677 shares during the period. DNB Asset Management AS’s holdings in Allegion were worth $3,815,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Boston Partners grew its stake in Allegion by 1.0% during the 3rd quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company’s stock valued at $842,026,000 after purchasing an additional 48,199 shares in the last quarter. State Street Corp grew its stake in Allegion by 6.6% during the 3rd quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock valued at $750,584,000 after purchasing an additional 260,973 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Allegion by 10.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,593,117 shares of the scientific and technical instruments company’s stock valued at $412,876,000 after purchasing an additional 236,248 shares in the last quarter. Northern Trust Corp grew its stake in Allegion by 4.5% during the 3rd quarter. Northern Trust Corp now owns 1,210,063 shares of the scientific and technical instruments company’s stock valued at $214,605,000 after purchasing an additional 52,612 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Allegion by 7.7% during 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 purchasing an additional 67,074 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Price Performance

Shares of ALLE opened at $126.10 on Wednesday. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.67 and a beta of 0.89. The stock has a 50 day moving average of $141.42 and a 200-day moving average of $156.00. The company has a current ratio of 1.91, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. Allegion PLC has a 52 week low of $125.55 and a 52 week high of $183.11.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.08). The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.Allegion’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, analysts forecast that Allegion PLC will post 8.73 EPS for the current year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.7%. Allegion’s dividend payout ratio (DPR) is 30.05%.

Allegion announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 28th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALLE. Wells Fargo & Company lowered their price objective on Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings lowered Allegion from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Bank of America decreased their target price on Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $150.00 target price (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. Finally, Evercore upgraded Allegion to a “strong-buy” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $161.50.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 3,993 shares of the firm’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 value of $547,639.95. Following the sale, the senior vice president owned 8,570 shares of the company’s stock, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sue Main purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was bought at an average cost of $149.61 per share, for a total transaction of $299,220.00. Following the acquisition, the director owned 2,000 shares in the company, valued at approximately $299,220. The trade was a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 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.