Goldman Sachs Group Inc. Acquires 142,258 Shares of Allegion PLC $ALLE

Goldman Sachs Group Inc. boosted its position in Allegion PLC (NYSE:ALLE) by 26.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 673,495 shares of the scientific and technical instruments company’s stock after purchasing an additional 142,258 shares during the period. Goldman Sachs Group Inc.’s holdings in Allegion were worth $107,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ALLE. Norges Bank acquired a new stake in shares of Allegion in the fourth quarter valued at about $131,523,000. Millennium Management LLC increased its stake in shares of 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 valued at $54,700,000 after buying an additional 274,800 shares during the period. State Street Corp increased 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 valued at $750,584,000 after buying an additional 260,973 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Allegion by 10.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,593,117 shares of the scientific and technical instruments company’s stock valued at $412,876,000 after buying an additional 236,248 shares during the period. Finally, Caisse de depot et placement du Quebec increased its stake in shares of Allegion by 188.2% in the third quarter. Caisse de depot et placement du Quebec now owns 289,761 shares of the scientific and technical instruments company’s stock valued at $51,389,000 after buying an additional 189,236 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALLE shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $150.00 price target (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. Weiss Ratings cut Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Wells Fargo & Company decreased their price target on Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Bank of America decreased their price target on Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Finally, Barclays decreased their price target 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $160.38.

Allegion Trading Up 2.7%

NYSE ALLE opened at $131.06 on Wednesday. The business has a 50 day simple moving average of $136.80 and a 200 day simple moving average of $152.38. Allegion PLC has a one year low of $125.00 and a one year high of $183.11. The stock has a market capitalization of $11.26 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.65 and a beta of 0.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.19.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.08). Allegion had a return on equity of 35.41% and a net margin of 15.24%.The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $1.86 EPS. The company’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. Research analysts expect that Allegion PLC will post 8.73 earnings per share for the current year.

Allegion Announces Dividend

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

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

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 3,993 shares of the firm’s 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 sale, the senior vice president owned 8,570 shares of the company’s stock, valued at $1,175,375.50. This trade 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 at the SEC website. 0.64% of the stock is owned by corporate insiders.

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.