Canoe Financial LP Acquires New Position in Allegion PLC $ALLE

Canoe Financial LP acquired a new stake in shares of Allegion PLC (NYSE:ALLE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,597 shares of the scientific and technical instruments company’s stock, valued at approximately $523,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners boosted its holdings in Allegion by 1.0% in the 3rd quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company’s stock worth $842,026,000 after buying an additional 48,199 shares during the period. State Street Corp boosted its holdings in shares of Allegion by 6.6% in the third quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock worth $750,584,000 after acquiring an additional 260,973 shares during the period. Geode Capital Management LLC grew its position in shares of Allegion by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 2,693,831 shares of the scientific and technical instruments company’s stock valued at $427,521,000 after purchasing an additional 13,880 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Allegion by 10.0% during the 4th 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 period. Finally, Invesco Ltd. raised its stake in shares of Allegion by 12.7% during the 4th quarter. Invesco Ltd. now owns 1,402,682 shares of the scientific and technical instruments company’s stock valued at $223,335,000 after purchasing an additional 157,724 shares during the period. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

NYSE ALLE opened at $139.94 on Monday. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $183.11. The company has a fifty day moving average of $134.18 and a 200-day moving average of $149.65. The company has a market capitalization of $12.03 billion, a P/E ratio of 19.12, a P/E/G ratio of 2.90 and a beta of 0.87. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.08). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, equities research analysts predict that Allegion PLC will post 8.73 EPS for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid 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 dividend yield of 1.6%. Allegion’s dividend payout ratio (DPR) is 30.05%.

Allegion announced that its board has authorized a stock repurchase program 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 repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on ALLE shares. Robert W. Baird set a $165.00 target price on Allegion in a report on Wednesday, April 29th. Barclays cut their price objective 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $150.00 target price (down from $170.00) on shares of Allegion in a report on Friday, May 15th. Weiss Ratings downgraded shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 29th. Finally, Bank of America reduced their price target 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $160.89.

Insider Buying and Selling at Allegion

In other news, SVP Robert C. Martens sold 3,993 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were 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 in the company, valued at approximately $1,175,375.50. The trade was a 31.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.64% of the company’s stock.

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.