Allegion PLC $ALLE Shares Sold by Burney Co.

Burney Co. trimmed its stake in Allegion PLC (NYSE:ALLE) by 40.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,537 shares of the scientific and technical instruments company’s stock after selling 5,103 shares during the period. Burney Co.’s holdings in Allegion were worth $1,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swedbank AB lifted its holdings in shares of Allegion by 2.0% in the 1st quarter. Swedbank AB now owns 78,122 shares of the scientific and technical instruments company’s stock valued at $11,350,000 after purchasing an additional 1,542 shares during the last quarter. Praxis Investment Management Inc. boosted its holdings in shares of Allegion by 37.2% in the first quarter. Praxis Investment Management Inc. now owns 1,852 shares of the scientific and technical instruments company’s stock valued at $269,000 after acquiring an additional 502 shares during the period. V Square Quantitative Management LLC grew its position in shares of Allegion by 10.9% during the first quarter. V Square Quantitative Management LLC now owns 3,655 shares of the scientific and technical instruments company’s stock worth $531,000 after acquiring an additional 358 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Allegion by 10.0% in the 1st quarter. QRG Capital Management Inc. now owns 26,923 shares of the scientific and technical instruments company’s stock valued at $3,912,000 after acquiring an additional 2,450 shares during the period. Finally, IRON Financial LLC acquired a new position in shares of Allegion in the 1st quarter valued at $200,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Robert W. Baird set a $165.00 target price on shares of Allegion in a research note on Wednesday, April 29th. Barclays lowered their price target on Allegion from $165.00 to $161.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Wells Fargo & Company reduced their price objective on Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $150.00 price objective (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. One investment 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. According to data from MarketBeat, Allegion has a consensus rating of “Hold” and an average target price of $160.89.

Insider Activity at Allegion

In related 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 transaction of $547,639.95. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by company insiders.

Allegion Trading Down 3.0%

NYSE ALLE opened at $135.18 on Thursday. 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 capitalization of $11.62 billion, a P/E ratio of 18.47, a P/E/G ratio of 2.90 and a beta of 0.85. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $183.11. The firm has a 50-day moving average price of $133.26 and a 200 day moving average price of $148.45.

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 analysts’ consensus estimates of $1.88 by ($0.08). The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Allegion had a net margin of 15.24% and a return on equity of 35.41%. Allegion’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities research analysts expect that Allegion PLC will post 8.73 EPS for the current year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued 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 was Monday, June 15th. Allegion’s dividend payout ratio (DPR) is currently 30.05%.

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 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.