Cooke & Bieler LP Trims Stock Position in Allegion PLC $ALLE

Cooke & Bieler LP cut its stake in shares of Allegion PLC (NYSE:ALLE) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 438,237 shares of the scientific and technical instruments company’s stock after selling 46,050 shares during the quarter. Cooke & Bieler LP’s holdings in Allegion were worth $69,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Boston Partners lifted its position in Allegion by 1.0% during the third quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company’s stock valued at $842,026,000 after purchasing an additional 48,199 shares during the last quarter. State Street Corp lifted its position in Allegion by 6.6% during the third quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock valued at $750,584,000 after purchasing an additional 260,973 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Allegion by 10.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,593,117 shares of the scientific and technical instruments company’s stock valued at $412,876,000 after purchasing an additional 236,248 shares during the last quarter. Northern Trust Corp lifted its position in Allegion by 4.5% during the third quarter. Northern Trust Corp now owns 1,210,063 shares of the scientific and technical instruments company’s stock valued at $214,605,000 after purchasing an additional 52,612 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Allegion by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 942,212 shares of the scientific and technical instruments company’s stock valued at $167,104,000 after purchasing an additional 67,074 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Allegion Trading Up 0.0%

Shares of ALLE stock opened at $130.50 on Tuesday. The stock has a market capitalization of $11.21 billion, a PE ratio of 17.83, a P/E/G ratio of 2.71 and a beta of 0.89. Allegion PLC has a 1-year low of $125.00 and a 1-year high of $183.11. The business has a 50-day moving average of $140.03 and a 200 day moving average of $155.01. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.19.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.08). The company had revenue of $1.03 billion for 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%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, sell-side analysts anticipate that Allegion PLC will post 8.74 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.20 annualized dividend and a yield of 1.7%. Allegion’s dividend payout ratio is presently 30.05%.

Allegion announced that its board has authorized a share buyback program on Tuesday, April 28th that permits the company to buyback $500.00 million in 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 typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALLE. Bank of America dropped their target price on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Barclays dropped their target price on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. Robert W. Baird set a $165.00 target price on shares of Allegion in a research report on Wednesday, April 29th. Wells Fargo & Company dropped their target price on shares of Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Finally, Evercore upgraded shares of Allegion to a “strong-buy” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $161.50.

Insiders Place Their Bets

In other news, Director Sue Main bought 2,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was bought at an average cost of $149.61 per share, for a total transaction of $299,220.00. Following the completion of the acquisition, the director owned 2,000 shares in the company, valued at approximately $299,220. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Robert C. Martens sold 3,993 shares of the stock in a transaction dated Thursday, May 7th. The stock was 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. This represents a 31.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.64% of the stock is owned by company insiders.

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.