First Trust Advisors LP Reduces Holdings in Allegion PLC $ALLE

First Trust Advisors LP trimmed its stake in Allegion PLC (NYSE:ALLE) by 4.4% in the first quarter, HoldingsChannel.com reports. The fund owned 244,832 shares of the scientific and technical instruments company’s stock after selling 11,216 shares during the quarter. First Trust Advisors LP’s holdings in Allegion were worth $35,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ALLE. Norges Bank acquired a new stake in shares of Allegion during the fourth quarter valued at $131,523,000. Panagora Asset Management Inc. raised its stake in Allegion by 191.8% in the 4th quarter. Panagora Asset Management Inc. now owns 624,297 shares of the scientific and technical instruments company’s stock valued at $99,401,000 after purchasing an additional 410,346 shares during the last quarter. IFM Investors Pty Ltd raised its stake in Allegion by 2,013.5% in the 1st quarter. IFM Investors Pty Ltd now owns 355,233 shares of the scientific and technical instruments company’s stock valued at $51,612,000 after purchasing an additional 338,425 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Allegion by 163.9% in 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 in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of 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 purchasing an additional 274,800 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Trading Up 3.2%

Shares of ALLE stock opened at $158.24 on Tuesday. The firm has a market cap of $13.60 billion, a P/E ratio of 20.77, a PEG ratio of 3.12 and a beta of 0.85. Allegion PLC has a 1-year low of $125.00 and a 1-year high of $183.11. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.93 and a quick ratio of 1.23. The firm’s 50-day simple moving average is $135.40 and its 200-day simple moving average is $146.69.

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

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

Analysts Set New Price Targets

A number of brokerages have recently commented on ALLE. Weiss Ratings downgraded shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 29th. 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. lifted their target price on shares of Allegion from $150.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday. Evercore upgraded Allegion to a “strong-buy” rating in a report on Monday, April 13th. Finally, Bank of America decreased their price objective on Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. One 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 company’s stock. Based on data from MarketBeat, Allegion currently has a consensus rating of “Hold” and an average price target of $164.75.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of Allegion stock in a transaction 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 in the company, valued at $1,175,375.50. This trade represents a 31.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.64% of the stock is currently owned by company insiders.

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.