Allegion (NYSE:ALLE) Hits New 52-Week Low – Here’s Why

Allegion PLC (NYSE:ALLE)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $133.96 and last traded at $134.8550, with a volume of 28400 shares changing hands. The stock had previously closed at $135.49.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company cut 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 note on Wednesday, April 1st. Robert W. Baird set a $165.00 price target on Allegion in a report on Wednesday, April 29th. JPMorgan Chase & Co. cut their price target on Allegion from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Evercore upgraded shares of Allegion to a “strong-buy” rating in a research note on Monday, April 13th. Finally, Weiss Ratings cut shares of Allegion from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $164.00.

Allegion Stock Performance

The company has a current ratio of 1.91, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average price of $146.22 and a 200-day moving average price of $158.66. The firm has a market capitalization of $11.65 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 2.75 and a beta of 0.89.

Allegion (NYSE:ALLE) last announced its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.08). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, analysts anticipate that Allegion PLC will post 8.73 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, June 15th. Allegion’s dividend payout ratio (DPR) is currently 30.05%.

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

Insiders Place Their Bets

In other Allegion news, Director Steven Mizell sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $161.51, for a total value of $161,510.00. Following the completion of the sale, the director owned 4,915 shares in the company, valued at approximately $793,821.65. This trade represents a 16.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sue Main acquired 2,000 shares of the stock in a transaction on Wednesday, March 11th. The stock was bought at an average price of $149.61 per share, with a total value of $299,220.00. Following the transaction, the director directly owned 2,000 shares in the company, valued at approximately $299,220. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Allegion

Hedge funds and other institutional investors have recently made changes to their positions in the company. Westside Investment Management Inc. increased its stake in shares of Allegion by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 70 shares during the period. Pinnacle Bancorp Inc. grew its position in shares of Allegion by 255.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 115 shares during the period. First Horizon Corp acquired a new stake in shares of Allegion during the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. grew its position in shares of Allegion by 120.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock worth $26,000 after buying an additional 81 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Allegion during the 3rd quarter worth approximately $29,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.