Allegion PLC $ALLE Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Allegion PLC (NYSE:ALLE) by 8.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 185,709 shares of the scientific and technical instruments company’s stock after selling 17,145 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Allegion were worth $26,982,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Boston Partners raised its stake in shares of Allegion by 1.0% during the 3rd quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company’s stock valued at $842,026,000 after buying an additional 48,199 shares during the last quarter. State Street Corp boosted its stake 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 buying an additional 260,973 shares during the last quarter. Geode Capital Management LLC grew its holdings in Allegion by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,693,831 shares of the scientific and technical instruments company’s stock worth $427,521,000 after acquiring an additional 13,880 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Allegion by 10.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,593,117 shares of the scientific and technical instruments company’s stock worth $412,876,000 after acquiring an additional 236,248 shares during the period. Finally, Invesco Ltd. raised its position in Allegion by 12.7% during the fourth quarter. Invesco Ltd. now owns 1,402,682 shares of the scientific and technical instruments company’s stock valued at $223,335,000 after acquiring an additional 157,724 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Performance

NYSE:ALLE opened at $136.62 on Tuesday. 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 company has a fifty day moving average of $133.16 and a two-hundred day moving average of $147.94. The stock has a market capitalization of $11.74 billion, a PE ratio of 18.66, a P/E/G ratio of 2.84 and a beta of 0.85. Allegion PLC has a fifty-two week low of $125.00 and a fifty-two week high of $183.11.

Allegion (NYSE:ALLE) last posted 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 net margin of 15.24% and a return on equity of 35.41%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business earned $1.86 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, research analysts forecast that Allegion PLC will post 8.74 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, June 15th. Allegion’s payout ratio is 30.05%.

Allegion declared that its board has approved a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on ALLE shares. Evercore raised Allegion to a “strong-buy” rating in a report on Monday, April 13th. Barclays cut their target price on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. 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 note on Wednesday, April 1st. Longbow Research raised shares of Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price target on the stock in a report on Thursday, June 11th. Finally, Morgan Stanley dropped their price target on shares of Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $160.89.

Insider Buying and Selling

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $137.15, for a total transaction of $547,639.95. Following the completion of the transaction, the senior vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.