Allegion (NYSE:ALLE) Reaches New 52-Week Low After Insider Selling

Shares of Allegion PLC (NYSE:ALLE) hit a new 52-week low on Tuesday after an insider sold shares in the company. The company traded as low as $131.16 and last traded at $130.8450, with a volume of 110121 shares trading hands. The stock had previously closed at $132.35.

Specifically, SVP Robert C. Martens sold 3,993 shares of Allegion stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $137.15, for a total value of $547,639.95. Following the sale, the senior vice president owned 8,570 shares of the company’s stock, valued at approximately $1,175,375.50. The trade was a 31.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ALLE. Bank of America lowered their price target on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Evercore upgraded Allegion to a “strong-buy” rating in a research report on Monday, April 13th. Wells Fargo & Company decreased their target price on shares of Allegion from $175.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. JPMorgan Chase & Co. dropped their price objective on shares of Allegion from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, Weiss Ratings cut Allegion from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Allegion currently has an average rating of “Hold” and a consensus price target of $164.00.

Allegion Stock Performance

The stock has a market capitalization of $11.23 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.79 and a beta of 0.89. The stock has a 50 day moving average of $144.78 and a 200 day moving average of $157.74. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.08). Allegion had a net margin of 15.24% and a return on equity of 35.41%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm posted $1.86 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities analysts predict that Allegion PLC will post 8.73 EPS for the current year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. Allegion’s dividend payout ratio is currently 30.05%.

Allegion announced that its Board of Directors has authorized a share repurchase program on Tuesday, April 28th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Allegion

Institutional investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its stake in shares of Allegion by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 70 shares in the last quarter. Pinnacle Bancorp Inc. grew its holdings in shares of Allegion by 255.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 115 shares during the last quarter. First Horizon Corp acquired a new stake in Allegion during the 3rd quarter worth about $26,000. Hantz Financial Services Inc. boosted its stake in Allegion by 120.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock worth $26,000 after purchasing an additional 81 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Allegion in the third quarter worth $29,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.