Allegion PLC (NYSE:ALLE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Allegion PLC (NYSE:ALLE) have received a consensus recommendation of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $164.00.

Several equities analysts have commented on ALLE shares. Weiss Ratings cut Allegion from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. cut their price target on Allegion from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Barclays cut 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. Wells Fargo & Company cut their price target on Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Finally, Evercore raised Allegion to a “strong-buy” rating in a report on Monday, April 13th.

Allegion Trading Down 1.8%

Allegion stock opened at $134.31 on Friday. The business has a 50 day moving average price of $145.77 and a two-hundred day moving average price of $158.38. 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 stock has a market cap of $11.54 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 2.84 and a beta of 0.89. Allegion has a 12 month low of $131.22 and a 12 month high of $183.11.

Allegion (NYSE:ALLE) last posted its quarterly 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 net margin of 15.24% and a return on equity of 35.41%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, equities analysts forecast that Allegion will post 8.73 EPS for the current year.

Allegion declared that its Board of Directors has initiated a share buyback program on Tuesday, April 28th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.6%. Allegion’s dividend payout ratio is presently 30.05%.

Insider Buying and Selling

In related news, Director Sue Main bought 2,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average cost of $149.61 per share, with a total value of $299,220.00. Following the acquisition, the director owned 2,000 shares in the company, valued at approximately $299,220. This represents a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven Mizell sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $161.51, for a total value of $161,510.00. Following the completion of the transaction, the director directly owned 4,915 shares of the company’s stock, valued at approximately $793,821.65. The trade was a 16.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Allegion

A number of hedge funds have recently modified their holdings of ALLE. Norges Bank acquired a new position in shares of Allegion in the 4th quarter worth approximately $131,523,000. Panagora Asset Management Inc. raised its holdings in shares of Allegion by 191.8% in the 4th quarter. Panagora Asset Management Inc. now owns 624,297 shares of the scientific and technical instruments company’s stock worth $99,401,000 after buying an additional 410,346 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Allegion by 2,013.5% in the 1st quarter. IFM Investors Pty Ltd now owns 355,233 shares of the scientific and technical instruments company’s stock worth $51,612,000 after buying an additional 338,425 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Allegion by 163.9% in the 4th quarter. Franklin Resources Inc. now owns 529,243 shares of the scientific and technical instruments company’s stock worth $84,266,000 after buying an additional 328,701 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Allegion by 817.1% in the 3rd quarter. Millennium Management LLC now owns 308,430 shares of the scientific and technical instruments company’s stock worth $54,700,000 after buying an additional 274,800 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.