ING Groep NV Has $13 Million Stake in Allegion PLC $ALLE

ING Groep NV boosted its holdings in shares of Allegion PLC (NYSE:ALLE) by 635.4% in the fourth quarter, HoldingsChannel reports. The firm owned 81,618 shares of the scientific and technical instruments company’s stock after acquiring an additional 70,520 shares during the period. ING Groep NV’s holdings in Allegion were worth $12,995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALLE. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Allegion by 3.8% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171,903 shares of the scientific and technical instruments company’s stock worth $30,487,000 after purchasing an additional 6,220 shares during the period. Assetmark Inc. grew its stake in shares of Allegion by 22.9% during the third quarter. Assetmark Inc. now owns 97,541 shares of the scientific and technical instruments company’s stock worth $17,299,000 after purchasing an additional 18,165 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Allegion by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 942,212 shares of the scientific and technical instruments company’s stock worth $167,104,000 after purchasing an additional 67,074 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Allegion by 8.7% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 179,323 shares of the scientific and technical instruments company’s stock worth $31,368,000 after purchasing an additional 14,278 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Allegion during the fourth quarter worth $2,833,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALLE has been the subject of a number of analyst reports. Weiss Ratings cut Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Wells Fargo & Company decreased their price objective on Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. JPMorgan Chase & Co. reaffirmed 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. Robert W. Baird set a $165.00 price objective on Allegion in a research note on Wednesday, April 29th. Finally, Morgan Stanley reduced their target price on Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Allegion currently has an average rating of “Hold” and an average target price of $160.38.

Insider Activity

In other Allegion news, Director Sue Main bought 2,000 shares of Allegion stock in a transaction 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 completion of the acquisition, the director owned 2,000 shares in the company, valued at approximately $299,220. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert C. Martens sold 3,993 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were 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 owned 8,570 shares in the company, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.64% of the company’s stock.

Allegion Stock Performance

ALLE stock opened at $129.83 on Monday. The business’s 50-day moving average price is $137.43 and its two-hundred day moving average price is $152.82. The company has a current ratio of 1.91, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The firm has a market cap of $11.16 billion, a PE ratio of 17.74, a P/E/G ratio of 2.71 and a beta of 0.86. Allegion PLC has a 1-year low of $125.00 and a 1-year high of $183.11.

Allegion (NYSE:ALLE) last posted its earnings results 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 for 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 business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, research analysts forecast that Allegion PLC will post 8.73 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, June 15th. This represents a $2.20 annualized dividend and a yield of 1.7%. Allegion’s payout ratio is currently 30.05%.

Allegion announced that its Board of Directors has approved a share repurchase plan on Tuesday, April 28th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.