Patriot Financial Group Insurance Agency LLC Grows Stake in Allegion PLC $ALLE

Patriot Financial Group Insurance Agency LLC grew its stake in shares of Allegion PLC (NYSE:ALLE) by 75.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 10,114 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,361 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Allegion were worth $1,469,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Norges Bank bought a new position in Allegion in the 4th quarter worth about $131,523,000. Panagora Asset Management Inc. increased its stake in Allegion by 191.8% during 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. Franklin Resources Inc. increased its stake in 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 valued at $84,266,000 after purchasing an additional 328,701 shares in the last quarter. Millennium Management LLC raised its holdings in Allegion by 817.1% in the third 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 during the last quarter. Finally, State Street Corp lifted 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 in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ALLE. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $150.00 price target (down from $170.00) on shares of Allegion in a report on Friday, May 15th. Robert W. Baird set a $165.00 price objective on shares of Allegion in a report on Wednesday, April 29th. Longbow Research raised Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a research report on Thursday, June 11th. Morgan Stanley cut their target price on Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Finally, Barclays reduced their target price on Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $160.89.

Allegion Stock Performance

Shares of NYSE ALLE opened at $139.48 on Tuesday. The firm’s 50-day moving average price is $134.13 and its 200-day moving average price is $149.53. The company has a quick ratio of 1.19, a current ratio of 1.91 and a debt-to-equity ratio of 0.97. The company has a market cap of $11.99 billion, a PE ratio of 19.05, a PEG ratio of 2.90 and a beta of 0.87. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $183.11.

Allegion (NYSE:ALLE) last released its quarterly earnings data 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 company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Allegion had a net margin of 15.24% and a return on equity of 35.41%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 earnings per share. 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 EPS for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.55 dividend. 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 payout ratio is 30.05%.

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

Insiders Place Their Bets

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the business’s stock in a transaction on 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 directly owned 8,570 shares in the company, valued at approximately $1,175,375.50. The trade was a 31.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

Allegion 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.