Wealth Enhancement Advisory Services LLC Cuts Stock Position in Allegion PLC $ALLE

Wealth Enhancement Advisory Services LLC cut its holdings in shares of Allegion PLC (NYSE:ALLE) by 47.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,412 shares of the scientific and technical instruments company’s stock after selling 35,655 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Allegion were worth $6,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ALLE. Berkshire Hathaway Inc purchased a new stake in Allegion during the second quarter worth approximately $112,433,000. Norges Bank purchased a new stake in shares of Allegion in the second quarter valued at about $109,862,000. Millennium Management LLC lifted its position in Allegion by 817.1% during 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 acquiring an additional 274,800 shares during the period. State Street Corp lifted its holdings 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 purchasing an additional 260,973 shares during the period. Finally, Caisse de depot et placement du Quebec lifted its stake in shares of Allegion by 188.2% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 289,761 shares of the scientific and technical instruments company’s stock worth $51,389,000 after acquiring an additional 189,236 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Allegion

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

Allegion Stock Down 0.9%

Shares of Allegion stock opened at $144.50 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.84 and a quick ratio of 1.16. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $183.11. The business has a 50-day moving average of $160.02 and a 200-day moving average of $164.90. The company has a market capitalization of $12.45 billion, a PE ratio of 19.42, a P/E/G ratio of 3.13 and a beta of 1.03.

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

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Allegion’s previous quarterly dividend of $0.51. 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.