Allegion PLC $ALLE Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its position in Allegion PLC (NYSE:ALLE) by 45.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,582,710 shares of the scientific and technical instruments company’s stock after selling 1,337,703 shares during the period. Van ECK Associates Corp owned about 1.84% of Allegion worth $280,693,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ALLE. State Street Corp lifted its holdings in shares of Allegion by 0.8% in the second quarter. State Street Corp now owns 3,971,235 shares of the scientific and technical instruments company’s stock valued at $572,336,000 after purchasing an additional 31,322 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Allegion by 15.2% in the second quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock valued at $369,514,000 after acquiring an additional 339,025 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Allegion by 5.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,356,869 shares of the scientific and technical instruments company’s stock worth $417,991,000 after purchasing an additional 113,821 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Allegion by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 942,212 shares of the scientific and technical instruments company’s stock valued at $167,104,000 after purchasing an additional 67,074 shares during the last quarter. Finally, Berkshire Hathaway Inc purchased a new position in Allegion in the 2nd quarter valued at about $112,433,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Transactions at Allegion

In other news, Director Steven Mizell sold 1,000 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $161.51, for a total value of $161,510.00. Following the completion of the sale, the director owned 4,915 shares of the company’s stock, valued at $793,821.65. This represents a 16.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Allegion Trading Down 0.1%

Shares of ALLE opened at $150.26 on Tuesday. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $183.11. The firm has a market capitalization of $12.94 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 3.25 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. The stock’s fifty day simple moving average is $164.60 and its 200 day simple moving average is $167.35.

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

Allegion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.55 per share. This is an increase from Allegion’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, March 13th. Allegion’s payout ratio is presently 27.42%.

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.