Assenagon Asset Management S.A. Decreases Stock Holdings in Allegion PLC $ALLE

Assenagon Asset Management S.A. reduced its position in shares of Allegion PLC (NYSE:ALLE) by 96.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,297 shares of the scientific and technical instruments company’s stock after selling 125,073 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Allegion were worth $624,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Allegion in the 4th quarter worth $131,523,000. Panagora Asset Management Inc. grew its stake in shares of Allegion by 191.8% in the fourth quarter. Panagora Asset Management Inc. now owns 624,297 shares of the scientific and technical instruments company’s stock worth $99,401,000 after purchasing an additional 410,346 shares during the last quarter. Franklin Resources Inc. increased its holdings in Allegion by 163.9% during the 4th quarter. Franklin Resources Inc. now owns 529,243 shares of the scientific and technical instruments company’s stock valued at $84,266,000 after purchasing an additional 328,701 shares during the period. Millennium Management LLC increased its holdings 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 valued at $54,700,000 after purchasing an additional 274,800 shares during the period. Finally, State Street Corp raised its position in Allegion by 6.6% during the 3rd quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock valued at $750,584,000 after purchasing an additional 260,973 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

Shares of ALLE stock opened at $140.72 on Friday. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.91 and a beta of 0.85. The business’s fifty day moving average is $133.89 and its 200 day moving average is $149.07. Allegion PLC has a twelve month low of $125.00 and a twelve month high of $183.11. The company has a quick ratio of 1.19, a current ratio of 1.91 and a debt-to-equity ratio of 0.97.

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

Allegion declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was 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 currently 30.05%.

Insider Buying and Selling at Allegion

In other news, SVP Robert C. Martens sold 3,993 shares of Allegion stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $137.15, for a total transaction of $547,639.95. Following the completion of the transaction, the senior vice president directly owned 8,570 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ALLE shares. Evercore upgraded Allegion to a “strong-buy” rating in a report on Monday, April 13th. Robert W. Baird set a $165.00 target price on Allegion in a research note on Wednesday, April 29th. Longbow Research upgraded Allegion from a “neutral” rating to a “buy” rating and set a $165.00 target price for the company in a report on Thursday, June 11th. Bank of America dropped their price target on Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Finally, Weiss Ratings downgraded shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Allegion presently has an average rating of “Hold” and an average 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.