Mirabella Financial Services LLP Invests $8.37 Million in Allegion PLC $ALLE

Mirabella Financial Services LLP bought a new stake in shares of Allegion PLC (NYSE:ALLE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 47,333 shares of the scientific and technical instruments company’s stock, valued at approximately $8,366,000. Allegion makes up 0.7% of Mirabella Financial Services LLP’s investment portfolio, making the stock its 25th largest holding. Mirabella Financial Services LLP owned about 0.06% of Allegion at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALLE. Berkshire Hathaway Inc purchased a new stake in shares of Allegion during the second quarter worth about $112,433,000. Norges Bank purchased a new position in shares of Allegion in the second quarter valued at $109,862,000. Millennium Management LLC increased its holdings in shares of Allegion by 817.1% in the 3rd quarter. Millennium Management LLC now owns 308,430 shares of the scientific and technical instruments company’s stock worth $54,700,000 after buying an additional 274,800 shares during the last quarter. State Street Corp increased its stake in Allegion by 6.6% during the third quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock worth $750,584,000 after acquiring an additional 260,973 shares during the last quarter. Finally, Caisse de depot et placement du Quebec raised its holdings in Allegion by 188.2% during the 3rd 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. 92.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Allegion news, Director Sue Main bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were purchased at an average cost of $149.61 per share, for a total transaction of $299,220.00. Following the purchase, the director directly owned 2,000 shares in the company, valued at $299,220. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven Mizell sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $161.51, for a total value of $161,510.00. Following the transaction, the director directly owned 4,915 shares in the company, valued at $793,821.65. This represents a 16.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ALLE shares. Barclays reduced their price objective on shares of Allegion from $180.00 to $176.00 and set an “equal weight” rating on the stock in a research report on Monday, February 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a report on Wednesday, January 21st. Wells Fargo & Company reiterated a “positive” rating on shares of Allegion in a report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of Allegion from $190.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $175.00.

Allegion Stock Performance

Shares of Allegion stock opened at $144.53 on Thursday. The company has a market capitalization of $12.45 billion, a PE ratio of 19.43, a P/E/G ratio of 3.16 and a beta of 1.03. The company has a 50-day simple moving average of $162.56 and a two-hundred day simple moving average of $166.14. Allegion PLC has a one year low of $116.57 and a one year high of $183.11. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.16 and a current ratio of 1.84.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.07). The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Allegion had a net margin of 15.83% and a return on equity of 38.06%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Research analysts expect that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.55 dividend. This is an increase from Allegion’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, March 13th. Allegion’s dividend payout ratio is presently 29.57%.

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.