Kentucky Retirement Systems Takes Position in Allegion PLC $ALLE

Kentucky Retirement Systems acquired a new position in shares of Allegion PLC (NYSE:ALLE) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,373 shares of the scientific and technical instruments company’s stock, valued at approximately $1,071,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Allegion by 7.0% during the first 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 purchasing an additional 626 shares during the period. NewEdge Advisors LLC raised its stake in Allegion by 35.3% in the first 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 position in shares of Allegion by 44.2% in the first 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 last quarter. Empowered Funds LLC boosted its stake 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 stake 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 worth $937,000 after acquiring an additional 4,826 shares during the period. 92.21% of the stock is owned by institutional investors.

Insider Transactions at Allegion

In other news, SVP Robert C. Martens sold 3,993 shares of the business’s stock in a transaction dated 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 sale, the senior vice president owned 8,570 shares of the company’s stock, valued at approximately $1,175,375.50. The trade was a 31.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Nickolas A. Musial sold 687 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $155.00, for a total transaction of $106,485.00. Following the completion of the transaction, the chief accounting officer owned 6,798 shares in the company, valued at $1,053,690. This trade represents a 9.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 14,281 shares of company stock valued at $2,143,983. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Evercore upgraded Allegion to a “strong-buy” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. lifted their price objective on shares of Allegion from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Morgan Stanley decreased their price objective on shares of Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Longbow Research raised shares of Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a research report on Thursday, June 11th. Finally, Bank of America cut their target price on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $164.75.

Allegion Price Performance

Allegion stock opened at $157.66 on Friday. Allegion PLC has a 12 month low of $125.00 and a 12 month high of $183.11. The stock’s 50 day moving average is $137.75 and its 200-day moving average is $146.70. The company has a current ratio of 1.93, a quick ratio of 1.23 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $13.41 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 3.19 and a beta of 0.85.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.18. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. Allegion had a return on equity of 35.41% and a net margin of 15.36%.The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 earnings per share. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. Equities research analysts expect that Allegion PLC will post 8.92 EPS for the current year.

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