IFG Advisory LLC Buys 5,222 Shares of Allegion PLC $ALLE

IFG Advisory LLC raised its stake in shares of Allegion PLC (NYSE:ALLE) by 45.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,612 shares of the scientific and technical instruments company’s stock after buying an additional 5,222 shares during the period. IFG Advisory LLC’s holdings in Allegion were worth $2,645,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Kingsview Wealth Management LLC bought a new position in shares of Allegion in the fourth quarter worth about $2,833,000. Geode Capital Management LLC increased its stake in shares of 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 worth $427,521,000 after purchasing an additional 13,880 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in shares of Allegion in the fourth quarter worth about $1,332,000. Allstate Corp increased its stake in shares of Allegion by 93.2% in the fourth quarter. Allstate Corp now owns 5,975 shares of the scientific and technical instruments company’s stock worth $951,000 after purchasing an additional 2,883 shares during the period. Finally, Hantz Financial Services Inc. increased its stake 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 worth $34,000 after purchasing an additional 68 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wells Fargo & Company dropped their price objective on Allegion from $175.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $150.00 price objective (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. Barclays dropped their price objective on Allegion from $165.00 to $161.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Bank of America dropped their price objective on Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Finally, Robert W. Baird set a $165.00 price target on Allegion in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $161.50.

Insiders Place Their Bets

In related news, SVP Robert C. Martens sold 3,993 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $137.15, for a total transaction of $547,639.95. Following the completion of the sale, the senior vice president directly owned 8,570 shares of the company’s stock, valued at $1,175,375.50. This trade represents a 31.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sue Main purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average cost of $149.61 per share, with a total value of $299,220.00. Following the completion of the acquisition, the director directly owned 2,000 shares in the company, valued at approximately $299,220. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.64% of the company’s stock.

Allegion Stock Up 0.2%

NYSE ALLE opened at $131.42 on Friday. 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 stock’s 50 day moving average is $139.17 and its two-hundred day moving average is $154.28. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.73 and a beta of 0.89. Allegion PLC has a 1-year low of $125.00 and a 1-year high of $183.11.

Allegion (NYSE:ALLE) last released its quarterly earnings data 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 company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Allegion had a net margin of 15.24% and a return on equity of 35.41%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities analysts forecast that Allegion PLC will post 8.74 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. Allegion’s dividend payout ratio (DPR) is currently 30.05%.

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

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.