Allegion (NYSE:ALLE) Shares Down 6.7% – Here’s Why

Allegion PLC (NYSE:ALLE) fell 6.7% during trading on Wednesday. The stock traded as low as $148.77 and last traded at $144.8260. 107,001 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,087,877 shares. The stock had previously closed at $155.20.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Longbow Research upgraded shares of Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price objective for the company in a research note on Thursday, June 11th. Evercore restated an “outperform” rating and set a $180.00 target price on shares of Allegion in a report on Tuesday, September 22nd. JPMorgan Chase & Co. upped their price target on shares of Allegion from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings raised Allegion from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Finally, Robert W. Baird set a $170.00 target price on Allegion in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $162.50.

Allegion Trading Down 5.0%

The stock has a market cap of $12.54 billion, a P/E ratio of 19.32, a PEG ratio of 3.13 and a beta of 0.81. The firm’s 50-day simple moving average is $158.21 and its 200 day simple moving average is $145.17. The company has a current ratio of 1.93, a quick ratio of 1.23 and a debt-to-equity ratio of 0.96.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.18. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Allegion had a return on equity of 35.41% and a net margin of 15.36%.The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $2.04 earnings per share. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. As a group, equities research analysts anticipate that Allegion PLC will post 8.92 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 15th. Allegion’s payout ratio is currently 28.87%.

Insiders Place Their Bets

In other news, SVP Timothy Eckersley sold 6,417 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was 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 directly owned 29,919 shares of the company’s stock, valued at $4,705,061.94. This trade represents a 17.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven Mizell purchased 170 shares of Allegion stock in a transaction dated Friday, August 28th. The shares were purchased at an average price of $158.28 per share, with a total value of $26,907.60. Following the completion of the acquisition, the director owned 5,899 shares in the company, valued at $933,693.72. The trade was a 2.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 11,288 shares of company stock valued at $1,764,593 in the last three months. Company insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Allegion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of Allegion by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company’s stock valued at $123,952,000 after purchasing an additional 13,186 shares in the last quarter. Hawk Ridge Capital Management LP raised its holdings in Allegion by 32.9% during the first quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock valued at $116,640,000 after buying an additional 198,800 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Allegion by 26.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 673,495 shares of the scientific and technical instruments company’s stock worth $107,234,000 after buying an additional 142,258 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Allegion by 191.8% during the 4th quarter. Panagora Asset Management Inc. now owns 624,297 shares of the scientific and technical instruments company’s stock worth $99,401,000 after acquiring an additional 410,346 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Allegion by 19.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 599,326 shares of the scientific and technical instruments company’s stock worth $87,076,000 after acquiring an additional 97,304 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Company Profile

Allegion plc is a global provider of security products and solutions for homes, businesses, schools, healthcare facilities and other institutions. The company develops and manufactures mechanical and electronic locks, access-control systems, door closers, exit devices, door hardware, and related products designed to help secure and manage entry into buildings.

Allegion’s portfolio includes well-known brands such as Schlage, Von Duprin, LCN, Steelcraft, Briton and Interflex. Its offerings range from residential locks and smart-home security products to commercial access-control systems, biometric and credential-based solutions, doors and frames, and software and services that support building security and access management.

Allegion was established as an independent company in 2013 following its separation from Ingersoll Rand.