Bank of New York Mellon Corp Sells 103,449 Shares of Allegion PLC $ALLE

Bank of New York Mellon Corp cut its stake in shares of Allegion PLC (NYSE:ALLE) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 516,311 shares of the scientific and technical instruments company’s stock after selling 103,449 shares during the quarter. Bank of New York Mellon Corp’s holdings in Allegion were worth $82,207,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its stake in shares of Allegion by 120.9% in the third quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Pinnacle Bancorp Inc. lifted its stake in shares of 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 buying an additional 115 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Allegion in the third quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Allegion in the third quarter valued at $36,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Allegion in the second quarter valued at $33,000. 92.21% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Robert C. Martens sold 3,993 shares of the firm’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 completion of the sale, the senior vice president owned 8,570 shares in the company, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sue Main acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average price of $149.61 per share, with a total value of $299,220.00. Following the acquisition, the director directly owned 2,000 shares of the company’s stock, valued at $299,220. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.64% of the company’s stock.

Allegion Stock Performance

Shares of ALLE stock opened at $127.57 on Tuesday. The firm has a 50-day moving average of $137.07 and a 200-day moving average of $152.59. The company has a market cap of $10.96 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.71 and a beta of 0.87. 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 one year low of $125.00 and a one year high of $183.11.

Allegion (NYSE:ALLE) last announced its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.08). The firm 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%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities research analysts forecast that Allegion PLC will post 8.73 EPS for the current fiscal year.

Allegion announced that its board has initiated a share repurchase program on Tuesday, April 28th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.55 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.7%. Allegion’s dividend payout ratio is currently 30.05%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALLE. Robert W. Baird set a $165.00 price objective on shares of Allegion in a research note on Wednesday, April 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $150.00 price objective (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. Barclays dropped their price objective on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Morgan Stanley dropped their price objective on shares of Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Finally, Bank of America dropped their price objective on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Allegion presently has an average rating of “Hold” and an average target price of $160.38.

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.