Key Points
- Allegion SVP Robert Martens sold 3,993 shares on May 7 at an average price of $137.15, totaling about $547,640. After the sale, he still held 8,570 shares, a 31.78% reduction in his position.
- ALLE shares were down 1.4% and recently traded at $132.55, near the stock’s 52-week low of $131.22. The company’s market cap is about $11.39 billion.
- Allegion reported mixed quarterly results, with revenue in line at $1.03 billion but EPS of $1.80 missing estimates. The company also authorized a $500 million share buyback and declared a quarterly dividend of $0.55 per share.
Allegion PLC (NYSE:ALLE - Get Free Report) SVP Robert Martens sold 3,993 shares of the business's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $137.15, for a total transaction of $547,639.95. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Allegion Trading Down 1.4%
ALLE stock opened at $132.55 on Tuesday. The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89. Allegion PLC has a twelve month low of $131.22 and a twelve month 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. The firm's fifty day simple moving average is $144.78 and its two-hundred day simple moving average is $157.74.
Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.08). The company 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%.The company's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, analysts anticipate that Allegion PLC will post 8.73 earnings per share for the current year.
Allegion announced that its board has authorized a share buyback program 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 repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.
Allegion Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.55 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.7%. Allegion's dividend payout ratio is presently 30.05%.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on ALLE shares. JPMorgan Chase & Co. lowered their price objective on shares of Allegion from $180.00 to $170.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Bank of America lowered 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. Wells Fargo & Company lowered their price objective on shares of Allegion from $175.00 to $155.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 1st. Barclays lowered their price objective on shares of Allegion from $165.00 to $161.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 29th. Finally, Robert W. Baird set a $165.00 price objective on shares of Allegion in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $164.00.
Check Out Our Latest Analysis on Allegion
Hedge Funds Weigh In On Allegion
Large investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its holdings in 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 worth $25,000 after purchasing an additional 70 shares in the last quarter. First Horizon Corp bought a new position in Allegion in the third quarter worth about $26,000. Hantz Financial Services Inc. raised its holdings in Allegion by 120.9% in 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 in the last quarter. Pinnacle Bancorp Inc. raised its holdings in Allegion by 255.6% in 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 in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Allegion in the third quarter worth about $29,000. 92.21% of the stock is currently owned by institutional investors.
About Allegion
(
Get Free Report)
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.
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