Allegion’s (ALLE) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

Allegion (NYSE:ALLE)‘s stock had its “neutral” rating restated by stock analysts at JPMorgan Chase & Co. in a research note issued on Friday,Benzinga reports. They currently have a $150.00 price objective on the scientific and technical instruments company’s stock, down from their prior price objective of $170.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 14.44% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Evercore upgraded Allegion to a “strong-buy” rating in a research report on Monday, April 13th. Wells Fargo & Company decreased their price target on shares of Allegion from $175.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Robert W. Baird set a $165.00 price target on shares of Allegion in a research report on Wednesday, April 29th. Weiss Ratings cut shares of Allegion from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Finally, Bank of America cut their price objective on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Allegion has an average rating of “Hold” and an average price target of $161.50.

Allegion Price Performance

Allegion stock opened at $131.08 on Friday. Allegion has a 12 month low of $130.07 and a 12 month high of $183.11. The stock’s 50 day moving average is $143.00 and its 200-day moving average is $156.89. 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 company has a market capitalization of $11.26 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 2.71 and a beta of 0.89.

Allegion (NYSE:ALLE) last released its quarterly earnings results 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). 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 business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities research analysts expect that Allegion will post 8.73 EPS for the current year.

Allegion announced that its board has initiated a stock repurchase program on Tuesday, April 28th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 3,993 shares of the company’s stock in a transaction dated 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 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 SEC, which is available through the SEC website. Also, Director Sue Main acquired 2,000 shares of Allegion stock in a transaction on Wednesday, March 11th. The shares were purchased at an average price of $149.61 per share, for a total transaction of $299,220.00. Following the completion of the purchase, the director directly owned 2,000 shares of the company’s stock, valued at approximately $299,220. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 5,393 shares of company stock worth $774,666. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Allegion

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Allegion during the fourth quarter valued at approximately $131,523,000. Panagora Asset Management Inc. boosted its holdings in shares of Allegion by 191.8% in the 4th quarter. Panagora Asset Management Inc. now owns 624,297 shares of the scientific and technical instruments company’s stock valued at $99,401,000 after purchasing an additional 410,346 shares in the last quarter. IFM Investors Pty Ltd increased its stake in shares of Allegion by 2,013.5% in the 1st quarter. IFM Investors Pty Ltd now owns 355,233 shares of the scientific and technical instruments company’s stock valued at $51,612,000 after purchasing an additional 338,425 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Allegion by 163.9% during the 4th quarter. Franklin Resources Inc. now owns 529,243 shares of the scientific and technical instruments company’s stock worth $84,266,000 after buying an additional 328,701 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Allegion by 817.1% during the 3rd quarter. Millennium Management LLC now owns 308,430 shares of the scientific and technical instruments company’s stock worth $54,700,000 after buying an additional 274,800 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.