Bank of Nova Scotia Boosts Stake in Allegion PLC $ALLE

Bank of Nova Scotia increased its holdings in shares of Allegion PLC (NYSE:ALLE) by 25.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 32,435 shares of the scientific and technical instruments company’s stock after purchasing an additional 6,594 shares during the period. Bank of Nova Scotia’s holdings in Allegion were worth $4,712,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Pinnacle Bancorp Inc. boosted its holdings in Allegion by 255.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 115 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Allegion during the third quarter worth about $36,000. Hantz Financial Services Inc. raised its position in Allegion by 45.9% during the fourth quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. Bard Associates Inc. purchased a new position in Allegion during the fourth quarter valued at approximately $35,000. Finally, CYBER HORNET ETFs LLC acquired a new position in Allegion in the second quarter valued at approximately $33,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Trading Up 3.2%

NYSE ALLE opened at $158.24 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.93. The firm has a market cap of $13.60 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 3.12 and a beta of 0.85. The firm has a 50 day simple moving average of $135.40 and a 200-day simple moving average of $146.69. Allegion PLC has a one year low of $125.00 and a one year high of $183.11.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share (EPS) for the quarter, beating 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%.Allegion’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 EPS. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. Equities research analysts anticipate that Allegion PLC will post 8.92 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Robert W. Baird set a $170.00 target price on Allegion in a research report on Friday. Longbow Research raised Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price target on the stock in a research note on Thursday, June 11th. Evercore raised Allegion to a “strong-buy” rating in a research note on Monday, April 13th. Bank of America decreased their price objective on Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Allegion from $150.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $164.75.

Insiders Place Their Bets

In other news, SVP Robert C. Martens sold 3,993 shares of the business’s stock in a transaction dated 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 sale, the senior vice president directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.64% of the stock is currently owned by company insiders.

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.