Allegion PLC $ALLE Shares Sold by Ninety One North America Inc.

Ninety One North America Inc. reduced its stake in Allegion PLC (NYSE:ALLE) by 44.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,211 shares of the scientific and technical instruments company’s stock after selling 57,887 shares during the quarter. Ninety One North America Inc. owned 0.08% of Allegion worth $11,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALLE. Dimensional Fund Advisors LP increased its holdings in Allegion by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company’s stock worth $123,952,000 after buying an additional 13,186 shares during the last quarter. Hawk Ridge Capital Management LP lifted its stake in Allegion by 32.9% in the first quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock valued at $116,640,000 after acquiring an additional 198,800 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Allegion by 19.4% in the first quarter. The Manufacturers Life Insurance Company now owns 599,326 shares of the scientific and technical instruments company’s stock valued at $87,076,000 after acquiring an additional 97,304 shares during the last quarter. Boston Trust Walden Corp grew its position in shares of Allegion by 8.1% in the 1st quarter. Boston Trust Walden Corp now owns 566,792 shares of the scientific and technical instruments company’s stock valued at $82,349,000 after acquiring an additional 42,660 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Allegion by 5.5% in the 1st quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company’s stock valued at $78,766,000 after acquiring an additional 28,449 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Steven Mizell purchased 170 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average price of $158.28 per share, with a total value of $26,907.60. Following the completion of the purchase, the director directly owned 5,899 shares in the company, valued at $933,693.72. This trade represents a 2.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Vincent Wenos sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $168.25, for a total transaction of $168,250.00. Following the sale, the senior vice president directly owned 12,096 shares of the company’s stock, valued at $2,035,152. This represents a 7.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,288 shares of company stock valued at $1,764,593 over the last 90 days. 0.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ALLE shares. Robert W. Baird set a $170.00 price target on Allegion in a research note on Friday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Allegion from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings raised shares of Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Evercore reiterated an “outperform” rating and issued a $180.00 price objective on shares of Allegion in a report on Tuesday, September 22nd. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Allegion has an average rating of “Hold” and a consensus price target of $162.50.

Allegion Price Performance

Shares of NYSE ALLE traded up $2.77 during midday trading on Thursday, reaching $155.27. The company’s stock had a trading volume of 439,793 shares, compared to its average volume of 1,090,689. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.93. Allegion PLC has a fifty-two week low of $125.00 and a fifty-two week high of $183.11. The business’s 50 day moving average price is $156.94 and its two-hundred day moving average price is $145.42. The company has a market cap of $13.20 billion, a P/E ratio of 20.36, a P/E/G ratio of 3.11 and a beta of 0.81.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.18. Allegion had a return on equity of 35.41% and a net margin of 15.36%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the business posted $2.04 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. On average, analysts forecast that Allegion PLC will post 8.94 EPS for the current fiscal year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 15th. Allegion’s payout ratio is 28.87%.

Allegion Company Profile

Allegion plc is a global provider of security products and solutions for homes, businesses, schools, healthcare facilities and other institutions. The company develops and manufactures mechanical and electronic locks, access-control systems, door closers, exit devices, door hardware, and related products designed to help secure and manage entry into buildings.

Allegion’s portfolio includes well-known brands such as Schlage, Von Duprin, LCN, Steelcraft, Briton and Interflex. Its offerings range from residential locks and smart-home security products to commercial access-control systems, biometric and credential-based solutions, doors and frames, and software and services that support building security and access management.

Allegion was established as an independent company in 2013 following its separation from Ingersoll Rand.