Allegion PLC $ALLE Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Allegion PLC (NYSE:ALLE) by 0.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,693,831 shares of the scientific and technical instruments company’s stock after acquiring an additional 13,880 shares during the quarter. Geode Capital Management LLC’s holdings in Allegion were worth $427,521,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Fusion Capital LLC acquired a new position in Allegion during the third quarter worth approximately $4,406,000. National Pension Service increased its position in Allegion by 449.4% during the third quarter. National Pension Service now owns 7,785 shares of the scientific and technical instruments company’s stock worth $1,381,000 after buying an additional 6,368 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Allegion by 3.8% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171,903 shares of the scientific and technical instruments company’s stock worth $30,487,000 after buying an additional 6,220 shares during the period. Assetmark Inc. increased its position in Allegion by 22.9% during the third quarter. Assetmark Inc. now owns 97,541 shares of the scientific and technical instruments company’s stock worth $17,299,000 after buying an additional 18,165 shares during the period. Finally, Truist Financial Corp increased its position in Allegion by 16.2% during the third quarter. Truist Financial Corp now owns 74,244 shares of the scientific and technical instruments company’s stock worth $13,167,000 after buying an additional 10,367 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ALLE shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $150.00 price target (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. Robert W. Baird set a $165.00 target price on Allegion in a report on Wednesday, April 29th. Bank of America dropped their target price on Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Barclays dropped their target price on Allegion from $165.00 to $161.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Finally, Wells Fargo & Company dropped their target price on Allegion from $175.00 to $155.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $161.50.

Insiders Place Their Bets

In other news, SVP Robert C. Martens sold 3,993 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $137.15, for a total value of $547,639.95. Following the sale, the senior vice president directly owned 8,570 shares in the company, valued at $1,175,375.50. This represents a 31.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sue Main acquired 2,000 shares of Allegion stock in a transaction dated Wednesday, March 11th. The stock was bought at an average price of $149.61 per share, for a total transaction of $299,220.00. Following the completion of the transaction, the director directly owned 2,000 shares of the company’s stock, valued at approximately $299,220. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.64% of the stock is currently owned by insiders.

Allegion Stock Up 0.2%

Allegion stock opened at $130.33 on Monday. 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 PLC has a 1-year low of $125.00 and a 1-year high of $183.11. The company has a market cap of $11.20 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.70 and a beta of 0.87. The stock’s 50 day moving average price is $138.89 and its 200 day moving average price is $154.03.

Allegion (NYSE:ALLE) last posted its quarterly earnings results 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). Allegion had a net margin of 15.24% and a return on equity of 35.41%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $1.86 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, sell-side analysts predict that Allegion PLC will post 8.74 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently announced 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. This represents a $2.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, June 15th. Allegion’s payout ratio is presently 30.05%.

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

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.