Allegion PLC $ALLE Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its holdings in shares of Allegion PLC (NYSE:ALLE) by 71.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,380 shares of the scientific and technical instruments company’s stock after selling 8,566 shares during the quarter. Sterling Capital Management LLC’s holdings in Allegion were worth $491,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ALLE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Allegion by 7.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,592 shares of the scientific and technical instruments company’s stock valued at $1,251,000 after acquiring an additional 626 shares during the period. NewEdge Advisors LLC raised its position in Allegion by 35.3% during the first quarter. NewEdge Advisors LLC now owns 3,272 shares of the scientific and technical instruments company’s stock worth $427,000 after acquiring an additional 854 shares during the period. Jones Financial Companies Lllp raised its position in Allegion by 44.2% during the first quarter. Jones Financial Companies Lllp now owns 1,629 shares of the scientific and technical instruments company’s stock worth $213,000 after acquiring an additional 499 shares during the period. Empowered Funds LLC lifted its holdings in Allegion by 13.0% during the first quarter. Empowered Funds LLC now owns 5,673 shares of the scientific and technical instruments company’s stock valued at $740,000 after purchasing an additional 651 shares in the last quarter. Finally, Focus Partners Wealth grew its position in shares of Allegion by 204.5% in the first quarter. Focus Partners Wealth now owns 7,186 shares of the scientific and technical instruments company’s stock valued at $937,000 after purchasing an additional 4,826 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ALLE. Bank of America cut their target price on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Evercore upgraded Allegion to a “strong-buy” rating in a report on Monday, April 13th. JPMorgan Chase & Co. reiterated 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. 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. Finally, Morgan Stanley decreased their target price on Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $160.89.

Allegion Price Performance

Shares of NYSE ALLE opened at $140.72 on Friday. The firm has a 50-day simple moving average of $133.89 and a 200-day simple moving average of $149.07. 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 stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 2.91 and a beta of 0.85. Allegion PLC has a 52 week low of $125.00 and a 52 week high of $183.11.

Allegion (NYSE:ALLE) last posted its quarterly 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). 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 quarter in the previous year, the firm posted $1.86 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, equities analysts predict that Allegion PLC will post 8.73 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 15th. Allegion’s payout ratio is currently 30.05%.

Allegion declared that its Board of Directors has approved a share buyback 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 reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, SVP Robert C. Martens sold 3,993 shares of the company’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 value of $547,639.95. Following the completion of the sale, the senior vice president directly owned 8,570 shares in the company, 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 Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by company insiders.

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.