Allegion PLC $ALLE Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Allegion PLC (NYSE:ALLE) by 3.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 501,079 shares of the scientific and technical instruments company’s stock after selling 15,232 shares during the quarter. Bank of New York Mellon Corp’s holdings in Allegion were worth $72,802,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund boosted its holdings in shares of Allegion by 33.0% during the first quarter. Illinois Municipal Retirement Fund now owns 44,423 shares of the scientific and technical instruments company’s stock worth $6,454,000 after purchasing an additional 11,028 shares during the last quarter. Advisors Preferred LLC purchased a new position in Allegion during the first quarter worth about $513,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Allegion during the first quarter worth about $275,000. Chicago Partners Investment Group LLC boosted its stake in Allegion by 15.8% in the 1st quarter. Chicago Partners Investment Group LLC now owns 2,531 shares of the scientific and technical instruments company’s stock worth $367,000 after buying an additional 345 shares during the last quarter. Finally, Arbejdsmarkedets Tillaegspension grew its holdings in Allegion by 17.7% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 173,860 shares of the scientific and technical instruments company’s stock valued at $25,260,000 after buying an additional 26,175 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

ALLE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $150.00 price objective (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. Robert W. Baird set a $165.00 target price on shares of Allegion in a report on Wednesday, April 29th. Barclays dropped 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. Weiss Ratings downgraded shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Finally, Evercore upgraded shares of Allegion to a “strong-buy” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $160.89.

Allegion Stock Up 2.1%

Shares of NYSE:ALLE opened at $140.19 on Thursday. The stock has a 50-day simple moving average of $133.79 and a 200-day simple moving average of $146.82. The stock has a market capitalization of $12.05 billion, a P/E ratio of 19.15, a PEG ratio of 2.85 and a beta of 0.85. 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.

Allegion (NYSE:ALLE) last released its quarterly earnings data 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). Allegion had a return on equity of 35.41% and a net margin of 15.24%.The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $1.86 earnings per share. Allegion’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 forecast that Allegion PLC will post 8.74 earnings per share for the current year.

Allegion declared that its Board of Directors has approved 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 purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $137.15, for a total value of $547,639.95. Following the transaction, the senior vice president directly owned 8,570 shares of the company’s stock, valued at $1,175,375.50. This trade represents a 31.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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.