Lord Abbett & CO. LLC Sells 87,285 Shares of Allegion PLC $ALLE

Lord Abbett & CO. LLC cut its stake in Allegion PLC (NYSE:ALLE) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,338,250 shares of the scientific and technical instruments company’s stock after selling 87,285 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Allegion were worth $213,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. grew its stake in shares of Allegion by 255.6% in the fourth 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 period. Hantz Financial Services Inc. grew its stake in shares of Allegion by 120.9% in the third quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock worth $26,000 after acquiring an additional 81 shares during the period. CYBER HORNET ETFs LLC bought a new stake in shares of Allegion in the second quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Allegion in the third quarter worth approximately $36,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Allegion in the second quarter worth approximately $37,000. 92.21% of the stock is currently owned by institutional investors.

Allegion Stock Performance

ALLE opened at $133.95 on Friday. 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 company has a market cap of $11.51 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.78 and a beta of 0.86. The company’s 50 day moving average is $136.11 and its 200 day moving average is $151.84. Allegion PLC has a 12-month low of $125.00 and a 12-month high of $183.11.

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

Allegion declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 28th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. Allegion’s dividend payout ratio (DPR) is presently 30.05%.

Insider Activity

In related news, SVP Robert C. Martens sold 3,993 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $137.15, for a total value of $547,639.95. Following the transaction, the senior vice president owned 8,570 shares of the company’s stock, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

ALLE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $150.00 price target (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. Evercore upgraded shares of Allegion to a “strong-buy” rating in a research note on Monday, April 13th. Weiss Ratings lowered shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Morgan Stanley reduced their price target on shares of Allegion from $165.00 to $142.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. Finally, Barclays reduced their price target on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $160.89.

Allegion 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.