Strs Ohio Boosts Stock Position in Allegion PLC $ALLE

Strs Ohio lifted its stake in Allegion PLC (NYSE:ALLE) by 18.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 129,858 shares of the scientific and technical instruments company’s stock after purchasing an additional 19,997 shares during the period. Strs Ohio’s holdings in Allegion were worth $18,867,000 at the end of the most recent reporting period.

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

Insider Activity at Allegion

In related news, SVP Robert C. Martens sold 3,993 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Robert W. Baird set a $165.00 price objective on shares of Allegion in a report on Wednesday, April 29th. Longbow Research upgraded shares of Allegion from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Thursday, June 11th. Weiss Ratings cut shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. reissued 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. Finally, Evercore raised shares of Allegion to a “strong-buy” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $160.89.

Allegion Stock Performance

NYSE ALLE opened at $140.72 on Friday. The stock has a market cap of $12.09 billion, a PE ratio of 19.22, a P/E/G ratio of 2.92 and a beta of 0.85. 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 twelve month low of $125.00 and a twelve month high of $183.11. The stock has a fifty day simple moving average of $133.81 and a 200-day simple moving average of $149.02.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (EPS) 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 company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm posted $1.86 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities analysts anticipate that Allegion PLC will post 8.73 earnings per share for the current year.

Allegion declared that its board has approved a share repurchase program on Tuesday, April 28th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 15th. Allegion’s payout ratio is 30.05%.

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.