Fjarde AP Fonden Fourth Swedish National Pension Fund Has $2.89 Million Stock Holdings in Allegion PLC $ALLE

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in Allegion PLC (NYSE:ALLE) by 24.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 18,132 shares of the scientific and technical instruments company’s stock after selling 5,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Allegion were worth $2,887,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALLE. Norges Bank acquired a new stake in shares of Allegion in the 4th quarter valued at approximately $131,523,000. Millennium Management LLC raised its position in shares of Allegion by 817.1% in the 3rd quarter. Millennium Management LLC now owns 308,430 shares of the scientific and technical instruments company’s stock valued at $54,700,000 after acquiring an additional 274,800 shares during the period. State Street Corp raised its holdings in Allegion by 6.6% during the 3rd quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock worth $750,584,000 after buying an additional 260,973 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Allegion by 10.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,593,117 shares of the scientific and technical instruments company’s stock worth $412,876,000 after buying an additional 236,248 shares during the period. Finally, Caisse de depot et placement du Quebec raised its holdings in Allegion by 188.2% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 289,761 shares of the scientific and technical instruments company’s stock worth $51,389,000 after buying an additional 189,236 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on ALLE shares. Evercore upgraded shares of Allegion to a “strong-buy” rating in a report on Monday, April 13th. Wells Fargo & Company dropped their target price on shares of Allegion from $175.00 to $155.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Weiss Ratings downgraded shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 29th. Robert W. Baird set a $165.00 target price on shares of Allegion in a report on Wednesday, April 29th. Finally, Bank of America dropped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $160.38.

Insider Buying and Selling at Allegion

In other news, SVP Robert C. Martens sold 3,993 shares of Allegion 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 owned 8,570 shares of the company’s stock, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

Allegion Price Performance

NYSE:ALLE opened at $131.06 on Wednesday. Allegion PLC has a 1-year low of $125.00 and a 1-year 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 fifty day simple moving average of $136.80 and a 200 day simple moving average of $152.38. The stock has a market capitalization of $11.26 billion, a PE ratio of 17.90, a P/E/G ratio of 2.65 and a beta of 0.86.

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 the consensus estimate of $1.88 by ($0.08). Allegion had a net margin of 15.24% and a return on equity of 35.41%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $1.86 earnings per share. Allegion’s quarterly 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 expect that Allegion PLC will post 8.73 EPS for the current fiscal year.

Allegion Dividend Announcement

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

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