Novem Group Makes New Investment in Allegion PLC $ALLE

Novem Group purchased a new stake in shares of Allegion PLC (NYSE:ALLE) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 8,773 shares of the scientific and technical instruments company’s stock, valued at approximately $1,397,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. increased its holdings in shares of Allegion by 100.0% during the third quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 70 shares in the last quarter. Pinnacle Bancorp Inc. increased its holdings in shares of Allegion by 255.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 115 shares in the last quarter. First Horizon Corp bought a new position in shares of Allegion during the third quarter valued at $26,000. Hantz Financial Services Inc. increased its holdings in shares of Allegion by 120.9% during the third quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Allegion during the third quarter valued at $29,000. 92.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Allegion from $190.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Bank of America reduced their price target on Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company reduced their price objective on Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Evercore upgraded Allegion to a “strong-buy” rating in a report on Monday, April 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $168.88.

Insider Transactions at Allegion

In other Allegion news, Director Steven Mizell sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $161.51, for a total transaction of $161,510.00. Following the completion of the sale, the director directly owned 4,915 shares in the company, valued at $793,821.65. The trade was a 16.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sue Main purchased 2,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were purchased 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 owned 2,000 shares in the company, valued at approximately $299,220. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.23% of the company’s stock.

Allegion Price Performance

NYSE ALLE opened at $145.35 on Tuesday. Allegion PLC has a one year low of $122.14 and a one year high of $183.11. The stock has a 50-day moving average of $152.03 and a 200 day moving average of $161.14. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.12 and a beta of 1.02. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.16 and a current ratio of 1.84.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.07). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Allegion had a net margin of 15.83% and a return on equity of 38.06%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, sell-side analysts forecast that Allegion PLC will post 8.75 EPS for the current year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, June 15th. Allegion’s payout ratio is currently 29.57%.

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.