Brokerages Set Allegion PLC (NYSE:ALLE) Target Price at $160.89

Allegion PLC (NYSE:ALLE) has been assigned an average recommendation of “Hold” from the twelve analysts that are covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $160.8889.

Several analysts have recently weighed in on ALLE shares. Robert W. Baird set a $165.00 price objective on Allegion in a report on Wednesday, April 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $150.00 target price (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. Morgan Stanley decreased their price target on shares of Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Bank of America lowered their price target on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Finally, Barclays dropped their price objective on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th.

Allegion Stock Down 1.8%

Shares of ALLE opened at $137.01 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91. The company has a 50-day simple moving average of $133.36 and a 200-day simple moving average of $147.37. Allegion has a 52 week low of $125.00 and a 52 week high of $183.11. The firm has a market capitalization of $11.77 billion, a P/E ratio of 18.72, a P/E/G ratio of 2.85 and a beta of 0.85.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.08). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, equities research analysts expect that Allegion will post 8.74 earnings per share for the current year.

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

Insider Transactions at Allegion

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $137.15, for a total transaction of $547,639.95. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegion

A number of hedge funds have recently modified their holdings of ALLE. Kingsview Wealth Management LLC bought a new position in shares of Allegion during the fourth quarter valued at $2,833,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Allegion by 5.6% during 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 purchasing an additional 9,598 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Allegion by 2,028.5% during the 4th quarter. SG Americas Securities LLC now owns 193,651 shares of the scientific and technical instruments company’s stock valued at $30,833,000 after purchasing an additional 184,553 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Allegion by 793.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 45,002 shares of the scientific and technical instruments company’s stock valued at $7,165,000 after purchasing an additional 39,964 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Allegion by 50.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,115 shares of the scientific and technical instruments company’s stock valued at $3,683,000 after buying an additional 7,776 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.