Allegion PLC $ALLE Stake Boosted by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV boosted its holdings in Allegion PLC (NYSE:ALLE) by 20.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,106 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,795 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Allegion were worth $4,955,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Allegion by 7.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,592 shares of the scientific and technical instruments company’s stock worth $1,251,000 after acquiring an additional 626 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Allegion by 35.3% during the first quarter. NewEdge Advisors LLC now owns 3,272 shares of the scientific and technical instruments company’s stock valued at $427,000 after purchasing an additional 854 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Allegion by 44.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,629 shares of the scientific and technical instruments company’s stock worth $213,000 after purchasing an additional 499 shares during the period. Empowered Funds LLC raised its position in shares of Allegion by 13.0% during the 1st quarter. Empowered Funds LLC now owns 5,673 shares of the scientific and technical instruments company’s stock worth $740,000 after purchasing an additional 651 shares during the period. Finally, Focus Partners Wealth lifted its holdings in shares of Allegion by 204.5% in the 1st quarter. Focus Partners Wealth now owns 7,186 shares of the scientific and technical instruments company’s stock worth $937,000 after purchasing an additional 4,826 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Morgan Stanley dropped their target price on Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 3rd. Barclays lowered their price target 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. 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 report on Monday, April 20th. Evercore upgraded shares of Allegion to a “strong-buy” rating in a research report on Monday, April 13th. Finally, Wells Fargo & Company decreased 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. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $160.89.

Insider Activity at Allegion

In related news, SVP Robert C. Martens sold 3,993 shares of the stock in a transaction that occurred on 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 directly owned 8,570 shares of the company’s stock, valued at $1,175,375.50. This represents a 31.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is owned by insiders.

Allegion Stock Up 0.1%

Shares of ALLE stock opened at $135.08 on Friday. Allegion PLC has a 1 year low of $125.00 and a 1 year high of $183.11. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91. The business’s fifty day moving average is $133.20 and its 200-day moving average is $148.28. The stock has a market cap of $11.61 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.81 and a beta of 0.85.

Allegion (NYSE:ALLE) last announced its quarterly earnings data 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). Allegion had a net margin of 15.24% and a return on equity of 35.41%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company earned $1.86 EPS. The company’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. Equities analysts expect that Allegion PLC will post 8.73 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, June 15th. Allegion’s payout ratio is presently 30.05%.

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

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.