Lazard Asset Management LLC Sells 23,889 Shares of Allegion PLC $ALLE

Lazard Asset Management LLC trimmed its stake in Allegion PLC (NYSE:ALLE) by 72.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,203 shares of the scientific and technical instruments company’s stock after selling 23,889 shares during the period. Lazard Asset Management LLC’s holdings in Allegion were worth $1,337,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. grew 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 buying an additional 115 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Allegion in the 3rd quarter valued at approximately $36,000. Hantz Financial Services Inc. raised its holdings in Allegion by 45.9% in the 4th quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. Bard Associates Inc. bought a new stake in shares of Allegion in the 4th quarter worth approximately $35,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Allegion in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Up 2.4%

Shares of NYSE ALLE opened at $165.21 on Wednesday. The stock has a market cap of $14.05 billion, a PE ratio of 21.68, a PEG ratio of 3.28 and a beta of 0.84. The business has a fifty day moving average of $139.04 and a two-hundred day moving average of $146.62. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $183.11. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.93.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.18. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. Allegion had a net margin of 15.36% and a return on equity of 35.41%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.04 EPS. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. As a group, equities research analysts expect that Allegion PLC will post 8.92 earnings per share for the current fiscal year.

Allegion declared that its Board of Directors has initiated a stock buyback plan on Tuesday, April 28th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other Allegion news, CAO Nickolas A. Musial sold 687 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $155.00, for a total transaction of $106,485.00. Following the sale, the chief accounting officer directly owned 6,798 shares of the company’s stock, valued at approximately $1,053,690. This represents a 9.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy P. Eckersley sold 6,417 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $157.26, for a total transaction of $1,009,137.42. Following the sale, the senior vice president directly owned 29,919 shares of the company’s stock, valued at approximately $4,705,061.94. The trade was a 17.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,281 shares of company stock valued at $2,143,983 in the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALLE. Weiss Ratings cut Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Barclays reduced their target price on Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. Evercore raised shares of Allegion to a “strong-buy” rating in a report on Monday, April 13th. Bank of America dropped their price objective 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. Finally, Robert W. Baird set a $170.00 price objective on shares of Allegion in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $164.75.

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.