Brokerages Set Allegion PLC (NYSE:ALLE) PT at $164.75

Allegion PLC (NYSE:ALLE) has earned an average recommendation of “Hold” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $164.75.

A number of equities analysts have recently weighed in on ALLE shares. JPMorgan Chase & Co. lifted their price target on shares of Allegion from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Morgan Stanley reduced their target price on Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Robert W. Baird set a $170.00 price target on Allegion in a report on Friday, July 24th. Longbow Research upgraded Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Thursday, June 11th. Finally, Weiss Ratings raised Allegion from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th.

Insider Transactions at Allegion

In other news, CFO Michael J. Wagnes sold 3,184 shares of the company’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $150.98, for a total transaction of $480,720.32. Following the completion of the transaction, the chief financial officer directly owned 31,299 shares of the company’s stock, valued at $4,725,523.02. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Mizell acquired 170 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were purchased at an average price of $158.28 per share, with a total value of $26,907.60. Following the completion of the acquisition, the director owned 5,899 shares of the company’s stock, valued at $933,693.72. This represents a 2.97% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 11,288 shares of company stock worth $1,764,593. Company insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Allegion

A number of large investors have recently bought and sold shares of ALLE. California State Teachers Retirement System grew its stake in shares of Allegion by 13,296.8% during the 2nd quarter. California State Teachers Retirement System now owns 18,430,040 shares of the scientific and technical instruments company’s stock worth $2,589,236,000 after acquiring an additional 18,292,470 shares in the last quarter. Boston Partners lifted its position in shares of Allegion by 1.0% in the third quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company’s stock worth $842,026,000 after purchasing an additional 48,199 shares in the last quarter. State Street Corp boosted its holdings in Allegion by 6.6% during the third quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock worth $750,584,000 after purchasing an additional 260,973 shares during the last quarter. Geode Capital Management LLC grew its position in Allegion by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 2,693,831 shares of the scientific and technical instruments company’s stock valued at $427,521,000 after purchasing an additional 13,880 shares in the last quarter. Finally, Invesco Ltd. grew its position in Allegion by 12.7% in the fourth quarter. Invesco Ltd. now owns 1,402,682 shares of the scientific and technical instruments company’s stock valued at $223,335,000 after purchasing an additional 157,724 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Price Performance

ALLE opened at $157.15 on Friday. The company has a fifty day moving average price of $152.80 and a two-hundred day moving average price of $145.24. The firm has a market capitalization of $13.36 billion, a PE ratio of 20.62, a P/E/G ratio of 3.20 and a beta of 0.83. 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 has a 52 week low of $125.00 and a 52 week high of $183.11.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.18. Allegion had a return on equity of 35.41% and a net margin of 15.36%.The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business earned $2.04 earnings per share. The company’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, analysts anticipate that Allegion will post 8.92 earnings per share for the current year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.4%. Allegion’s dividend payout ratio is presently 28.87%.

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.