Allegion (NYSE:ALLE) SVP Timothy Eckersley Sells 6,417 Shares

Allegion PLC (NYSE:ALLE) SVP Timothy Eckersley sold 6,417 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $157.26, for a total transaction of $1,009,137.42. Following the completion of the sale, the senior vice president owned 29,919 shares of the company’s stock, valued at approximately $4,705,061.94. This represents a 17.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Allegion Stock Down 1.7%

Shares of NYSE ALLE traded down $2.80 during midday trading on Wednesday, reaching $158.43. 1,339,257 shares of the company’s stock traded hands, compared to its average volume of 1,060,562. The company has a quick ratio of 1.23, a current ratio of 1.93 and a debt-to-equity ratio of 0.96. The stock’s 50 day simple moving average is $136.10 and its 200-day simple moving average is $146.70. Allegion PLC has a one year low of $125.00 and a one year high of $183.11. The company has a market cap of $13.47 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 3.22 and a beta of 0.85.

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

Allegion declared that its board has initiated a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ALLE shares. Robert W. Baird set a $170.00 price objective on shares of Allegion in a research report on Friday, July 24th. Barclays decreased their target price on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. Longbow Research upgraded shares of Allegion from a “neutral” rating to a “buy” rating and set a $165.00 target price for the company in a research note on Thursday, June 11th. Bank of America cut their price target on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Finally, Evercore raised Allegion to a “strong-buy” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $164.75.

Hedge Funds Weigh In On Allegion

Hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners grew its position in Allegion by 1.0% during the 3rd quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company’s stock worth $842,026,000 after purchasing an additional 48,199 shares during the last quarter. State Street Corp lifted its stake in shares of 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 buying an additional 260,973 shares during the period. Geode Capital Management LLC grew its holdings in shares of Allegion by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,693,831 shares of the scientific and technical instruments company’s stock valued at $427,521,000 after buying an additional 13,880 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Allegion by 10.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,593,117 shares of the scientific and technical instruments company’s stock valued at $412,876,000 after buying an additional 236,248 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Allegion by 12.7% in the 4th quarter. Invesco Ltd. now owns 1,402,682 shares of the scientific and technical instruments company’s stock valued at $223,335,000 after acquiring an additional 157,724 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

About Allegion

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.