Allegion PLC $ALLE Shares Bought by Fiduciary Management Inc. WI

Fiduciary Management Inc. WI grew its stake in shares of Allegion PLC (NYSE:ALLE) by 28.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,015,783 shares of the scientific and technical instruments company’s stock after buying an additional 227,035 shares during the period. Allegion accounts for 1.8% of Fiduciary Management Inc. WI’s portfolio, making the stock its 24th largest position. Fiduciary Management Inc. WI’s holdings in Allegion were worth $161,733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Allegion by 3.8% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171,903 shares of the scientific and technical instruments company’s stock worth $30,487,000 after purchasing an additional 6,220 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Allegion by 22.9% during the third quarter. Assetmark Inc. now owns 97,541 shares of the scientific and technical instruments company’s stock worth $17,299,000 after purchasing an additional 18,165 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Allegion by 8.7% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 179,323 shares of the scientific and technical instruments company’s stock worth $31,368,000 after acquiring an additional 14,278 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Allegion by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 942,212 shares of the scientific and technical instruments company’s stock worth $167,104,000 after acquiring an additional 67,074 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Allegion in the fourth quarter worth about $2,833,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ALLE. Barclays cut 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. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $150.00 price target (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. Wells Fargo & Company cut their price target 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. Bank of America cut their price target on Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Finally, Morgan Stanley cut their price target on Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Allegion has an average rating of “Hold” and a consensus price target of $160.38.

Insider Activity

In other news, 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 directly owned 8,570 shares of the company’s stock, valued at approximately $1,175,375.50. This represents a 31.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sue Main bought 2,000 shares of the stock in a transaction dated Wednesday, March 11th. The shares were bought at an average cost of $149.61 per share, with a total value of $299,220.00. Following the completion of the acquisition, the director directly owned 2,000 shares of the company’s stock, valued at approximately $299,220. The trade was a ? increase in their position. The disclosure for this purchase is available in the SEC filing. 0.64% of the stock is owned by insiders.

Allegion Stock Down 0.4%

Shares of Allegion stock opened at $129.83 on Friday. 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 firm has a market cap of $11.16 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.71 and a beta of 0.86. Allegion PLC has a fifty-two week low of $125.00 and a fifty-two week high of $183.11. The business has a 50-day moving average price of $137.43 and a 200 day moving average price of $152.87.

Allegion (NYSE:ALLE) last announced 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 firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Allegion had a net margin of 15.24% and a return on equity of 35.41%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, sell-side analysts forecast that Allegion PLC will post 8.73 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently disclosed 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. This represents a $2.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. Allegion’s payout ratio is currently 30.05%.

Allegion declared that its board has approved a stock buyback plan on Tuesday, April 28th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.