Canoe Financial LP Acquires Shares of 3,597 Allegion PLC $ALLE

Canoe Financial LP purchased a new stake in shares of Allegion PLC (NYSE:ALLE) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,597 shares of the scientific and technical instruments company’s stock, valued at approximately $523,000.

Other hedge funds have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. raised its holdings in Allegion by 255.6% in the 4th 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 in the last quarter. CYBER HORNET ETFs LLC bought a new stake in Allegion during the 2nd quarter valued at about $33,000. Hantz Financial Services Inc. grew its holdings in shares of Allegion by 45.9% during the fourth quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 68 shares during the last quarter. Bard Associates Inc. bought a new stake in shares of Allegion during the fourth quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Allegion in the 3rd quarter worth approximately $36,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Allegion

In related news, SVP Robert C. Martens sold 3,993 shares of the firm’s stock in a transaction 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 transaction, the senior vice president directly owned 8,570 shares of the company’s stock, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.64% of the stock is owned by company insiders.

Allegion Trading Up 0.2%

Allegion stock opened at $139.94 on Monday. The business has a 50-day simple moving average of $134.18 and a two-hundred day simple moving average of $149.65. The company has a market cap of $12.03 billion, a P/E ratio of 19.12, a P/E/G 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. The company has a quick ratio of 1.19, a current ratio of 1.91 and a debt-to-equity ratio of 0.97.

Allegion (NYSE:ALLE) last issued 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 business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.Allegion’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Analysts predict that Allegion PLC will post 8.73 EPS for the current year.

Allegion declared that its board has approved a stock repurchase program 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 buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. Allegion’s payout ratio is presently 30.05%.

Wall Street Analysts Forecast Growth

ALLE has been the topic of several recent analyst reports. Robert W. Baird set a $165.00 target price on Allegion in a research note on Wednesday, April 29th. 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $150.00 target price (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. Weiss Ratings lowered shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Finally, Morgan Stanley decreased their price objective on shares of Allegion from $165.00 to $142.00 and set an “equal weight” rating for the company in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $160.89.

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.