Allegion PLC $ALLE Shares Sold by Resources Management Corp CT ADV

Resources Management Corp CT ADV trimmed its stake in shares of Allegion PLC (NYSE:ALLE) by 81.3% in the fourth quarter, Holdings Channel reports. The fund owned 1,188 shares of the scientific and technical instruments company’s stock after selling 5,160 shares during the period. Resources Management Corp CT ADV’s holdings in Allegion were worth $189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ALLE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Allegion by 7.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,592 shares of the scientific and technical instruments company’s stock worth $1,251,000 after acquiring an additional 626 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Allegion by 35.3% in the 1st quarter. NewEdge Advisors LLC now owns 3,272 shares of the scientific and technical instruments company’s stock valued at $427,000 after buying an additional 854 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Allegion by 44.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,629 shares of the scientific and technical instruments company’s stock valued at $213,000 after buying an additional 499 shares during the period. Empowered Funds LLC lifted its holdings in shares of Allegion by 13.0% in the 1st quarter. Empowered Funds LLC now owns 5,673 shares of the scientific and technical instruments company’s stock valued at $740,000 after buying an additional 651 shares during the period. Finally, Focus Partners Wealth lifted its holdings in shares of Allegion by 204.5% in the 1st quarter. Focus Partners Wealth now owns 7,186 shares of the scientific and technical instruments company’s stock valued at $937,000 after buying an additional 4,826 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 completion of the transaction, the senior vice president directly owned 8,570 shares of the company’s stock, valued at $1,175,375.50. This trade represents a 31.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by insiders.

Analysts Set New Price Targets

ALLE has been the subject of several recent analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $150.00 price target (down from $170.00) on shares of Allegion in a report on Friday, May 15th. Morgan Stanley reduced their price target on Allegion from $165.00 to $142.00 and set an “equal weight” rating for the company in a report on Wednesday, June 3rd. Barclays reduced their price target on Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Bank of America reduced their price target on Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Finally, Weiss Ratings cut Allegion from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Allegion presently has an average rating of “Hold” and a consensus target price of $160.89.

Allegion Stock Performance

NYSE ALLE opened at $133.76 on Tuesday. Allegion PLC has a 1-year low of $125.00 and a 1-year high of $183.11. The company has a market capitalization of $11.50 billion, a P/E ratio of 18.27, a PEG ratio of 2.79 and a beta of 0.87. The business has a 50 day moving average price of $135.96 and a 200 day moving average price of $151.54. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.19.

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

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

Allegion Dividend Announcement

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 paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, June 15th. Allegion’s dividend payout ratio (DPR) is presently 30.05%.

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.