Insider Selling: Allegion (NYSE:ALLE) CFO Sells $480,720.32 in Stock

Allegion PLC (NYSE:ALLE) CFO Michael Wagnes sold 3,184 shares of Allegion stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $150.98, for a total value of $480,720.32. Following the sale, the chief financial officer owned 31,299 shares of the company’s stock, valued at approximately $4,725,523.02. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Allegion Trading Down 1.0%

NYSE:ALLE opened at $156.82 on Friday. The company has a market capitalization of $13.34 billion, a P/E ratio of 20.58, a P/E/G ratio of 3.22 and a beta of 0.85. The stock’s 50 day moving average price is $137.21 and its 200 day moving average price is $146.62. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.93. Allegion PLC has a 52 week low of $125.00 and a 52 week high of $183.11.

Allegion (NYSE:ALLE) last posted 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. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Allegion had a net margin of 15.36% and a return on equity of 35.41%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.04 earnings per share. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. On average, research analysts forecast that Allegion PLC will post 8.92 EPS for the current fiscal year.

Allegion announced that its board has initiated a stock repurchase plan on Tuesday, April 28th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Allegion

A number of hedge funds have recently bought and sold shares of ALLE. Kingsview Wealth Management LLC bought a new stake in Allegion during the 4th quarter valued at approximately $2,833,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Allegion by 5.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 181,501 shares of the scientific and technical instruments company’s stock worth $29,205,000 after buying an additional 9,598 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Allegion by 793.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 45,002 shares of the scientific and technical instruments company’s stock worth $7,165,000 after buying an additional 39,964 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Allegion by 50.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 23,115 shares of the scientific and technical instruments company’s stock worth $3,683,000 after buying an additional 7,776 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position 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 valued at $99,401,000 after acquiring an additional 410,346 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ALLE. Barclays lowered their target price on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Weiss Ratings lowered Allegion from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 29th. JPMorgan Chase & Co. raised their price objective on Allegion from $150.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Robert W. Baird set a $170.00 target price on Allegion in a report on Friday, July 24th. Finally, Longbow Research raised Allegion from a “neutral” rating to a “buy” rating and set a $165.00 target price for the company in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $164.75.

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.