Norges Bank Invests $131.52 Million in Allegion PLC $ALLE

Norges Bank purchased a new position in shares of Allegion PLC (NYSE:ALLE) during the 4th quarter, Holdings Channel.com reports. The firm purchased 826,043 shares of the scientific and technical instruments company’s stock, valued at approximately $131,523,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its stake in Allegion by 100.0% during the third quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 70 shares during the last quarter. Pinnacle Bancorp Inc. boosted its holdings in shares of 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 purchasing an additional 115 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Allegion by 120.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Allegion during the 3rd quarter worth $29,000. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Allegion during the 2nd quarter worth $33,000. 92.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ALLE. Wells Fargo & Company reduced 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. Barclays lowered their target price 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. Bank of America dropped their target price on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Evercore raised shares of Allegion to a “strong-buy” rating in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $150.00 price objective (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $160.38.

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 shares were sold at an average price of $137.15, for a total value of $547,639.95. Following the completion of the transaction, the senior vice president owned 8,570 shares in the company, valued at $1,175,375.50. This trade represents a 31.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sue Main bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average price 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 $299,220. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.64% of the stock is owned by company insiders.

Allegion Trading Up 0.2%

NYSE ALLE opened at $130.38 on Friday. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.70 and a beta of 0.86. Allegion PLC has a twelve month low of $125.00 and a twelve month high of $183.11. The company has a quick ratio of 1.19, a current ratio of 1.91 and a debt-to-equity ratio of 0.97. The business’s fifty day moving average is $137.79 and its 200 day moving average is $153.03.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, sell-side analysts expect that Allegion PLC will post 8.74 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid 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 is currently 30.05%.

Allegion announced that its Board of Directors has authorized a stock repurchase program 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 reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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 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.