Contravisory Investment Management Inc. Boosts Holdings in Allegion PLC $ALLE

Contravisory Investment Management Inc. boosted its stake in Allegion PLC (NYSE:ALLE) by 314.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,096 shares of the scientific and technical instruments company’s stock after buying an additional 4,626 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Allegion were worth $971,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Forvis Mazars Wealth Advisors LLC purchased a new stake in Allegion in the third quarter valued at approximately $2,838,000. Burney Co. acquired a new stake in shares of Allegion in the third quarter worth $9,297,000. Fusion Capital LLC purchased a new position in shares of Allegion in the 3rd quarter valued at $4,406,000. Berkshire Hathaway Inc acquired a new position in shares of Allegion during the 2nd quarter valued at $112,433,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Allegion by 5.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,356,869 shares of the scientific and technical instruments company’s stock valued at $417,991,000 after buying an additional 113,821 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALLE. Barclays decreased their target price on shares of Allegion from $180.00 to $176.00 and set an “equal weight” rating for the company in a research note on Monday, February 23rd. JPMorgan Chase & Co. dropped their price target on shares of Allegion from $190.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company reiterated a “positive” rating on shares of Allegion in a report on Tuesday, December 16th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $175.00.

Insider Activity

In other news, Director Sue Main purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average price of $149.61 per share, with a total value of $299,220.00. Following the purchase, the director owned 2,000 shares in the company, valued at $299,220. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Mizell sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $161.51, for a total value of $161,510.00. Following the completion of the transaction, the director owned 4,915 shares in the company, valued at $793,821.65. This represents a 16.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.23% of the company’s stock.

Allegion Stock Up 0.9%

NYSE:ALLE opened at $143.73 on Tuesday. The business’s fifty day moving average price is $161.39 and its 200 day moving average price is $165.58. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 3.08 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.16 and a debt-to-equity ratio of 0.96. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $183.11.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.07). The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Allegion had a net margin of 15.83% and a return on equity of 38.06%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, sell-side analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.5%. This is an increase from Allegion’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, March 13th. Allegion’s dividend payout ratio is presently 29.57%.

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.