Legal & General Group Plc Trims Stock Position in Allegion PLC $ALLE

Legal & General Group Plc cut its stake in shares of Allegion PLC (NYSE:ALLE) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 463,709 shares of the scientific and technical instruments company’s stock after selling 33,007 shares during the period. Legal & General Group Plc’s holdings in Allegion were worth $73,832,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its stake in Allegion by 100.0% during 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 acquiring an additional 70 shares during the last quarter. Hantz Financial Services Inc. raised its stake in 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 valued at $26,000 after acquiring an additional 81 shares during the last quarter. Pinnacle Bancorp Inc. raised its stake in Allegion by 255.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 115 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Allegion during the 3rd quarter valued at approximately $29,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Allegion during the 3rd quarter valued at approximately $36,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ALLE. Weiss Ratings downgraded Allegion from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Evercore raised Allegion to a “strong-buy” rating in a research note on Monday, April 13th. Barclays reduced their price objective on Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. 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. Finally, Robert W. Baird set a $165.00 price objective on Allegion in a research note on Wednesday, April 29th. One equities research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $161.50.

Allegion Stock Performance

Shares of ALLE stock opened at $130.33 on Friday. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89. The stock has a 50 day simple moving average of $138.89 and a 200-day simple moving average of $154.12. Allegion PLC has a 12-month low of $125.00 and a 12-month high of $183.11. The company has a current ratio of 1.91, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97.

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

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. Allegion’s dividend payout ratio is 30.05%.

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

Insider Buying and Selling

In other Allegion news, Director Sue Main bought 2,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average cost of $149.61 per share, with a total value of $299,220.00. Following the purchase, the director owned 2,000 shares in the company, valued at approximately $299,220. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $547,639.95. Following the transaction, the senior vice president directly owned 8,570 shares of the company’s stock, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate 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.