Allegion PLC $ALLE Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Allegion PLC (NYSE:ALLE) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 501,079 shares of the scientific and technical instruments company’s stock after selling 15,232 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of Allegion worth $72,802,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Pinnacle Bancorp Inc. increased its position in Allegion by 255.6% in the 4th 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 during the period. CYBER HORNET ETFs LLC purchased a new position in shares of Allegion in the 2nd quarter valued at approximately $33,000. Hantz Financial Services Inc. increased its holdings in shares of Allegion by 45.9% in the fourth quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 68 shares during the period. Bard Associates Inc. acquired a new position in shares of Allegion in the fourth quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Allegion during the third quarter worth approximately $36,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Trading Up 2.1%

Shares of ALLE opened at $140.19 on Thursday. Allegion PLC has a twelve month low of $125.00 and a twelve month high of $183.11. The company has a current ratio of 1.91, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $12.05 billion, a P/E ratio of 19.15, a PEG ratio of 2.85 and a beta of 0.85. The firm’s 50-day moving average is $133.79 and its two-hundred day moving average is $146.82.

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

Allegion declared that its board has authorized a stock repurchase program on Tuesday, April 28th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALLE. Bank of America cut their price objective on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Morgan Stanley dropped 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. Longbow Research upgraded shares of Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price objective for the company in a research report on Thursday, June 11th. Evercore raised Allegion to a “strong-buy” rating in a report on Monday, April 13th. Finally, Barclays dropped their target price on Allegion from $165.00 to $161.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Allegion has an average rating of “Hold” and an average target price of $160.89.

Insider Buying and Selling

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of Allegion 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 approximately $1,175,375.50. The trade was a 31.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.64% of the company’s stock.

Allegion 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.