Brokerages Set Allegion PLC (NYSE:ALLE) Target Price at $161.50

Allegion PLC (NYSE:ALLE) has been given an average rating of “Hold” by the eleven research firms that are presently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $161.50.

A number of brokerages recently weighed in on ALLE. Barclays lowered their target price on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Evercore upgraded shares of Allegion to a “strong-buy” rating in a report on Monday, April 13th. Bank of America decreased their price objective on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $150.00 price objective (down from $170.00) on shares of Allegion in a report on Friday, May 15th. Finally, Weiss Ratings downgraded shares of Allegion from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 1st.

Insider Buying and Selling at Allegion

In other Allegion news, Director Sue Main purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average cost of $149.61 per share, for a total transaction of $299,220.00. Following the completion of the purchase, the director owned 2,000 shares of the company’s stock, valued at approximately $299,220. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the senior vice president owned 8,570 shares in the company, valued at $1,175,375.50. This trade represents a 31.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegion

Institutional investors and hedge funds have recently modified their holdings of the business. Westside Investment Management Inc. grew its stake in shares of Allegion by 100.0% in the third 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 in the last quarter. Hantz Financial Services Inc. lifted its position in Allegion by 120.9% during the third quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock worth $26,000 after purchasing an additional 81 shares during the period. Pinnacle Bancorp Inc. lifted its position in Allegion by 255.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 115 shares during the period. Atlantic Union Bankshares Corp bought a new stake in Allegion during the third quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Allegion during the third quarter worth about $36,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Price Performance

Shares of ALLE opened at $130.33 on Wednesday. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.73 and a beta of 0.89. Allegion has a 1-year low of $125.00 and a 1-year high of $183.11. The company’s fifty day simple moving average is $138.89 and its 200 day simple moving average is $154.12. 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 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%.Allegion’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, research analysts forecast that Allegion will post 8.74 earnings per share for the current fiscal year.

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

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, June 15th. Allegion’s payout ratio is currently 30.05%.

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.