Allegion (NYSE:ALLE) Given “Neutral” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of Allegion (NYSE:ALLE) in a report issued on Friday morning, Marketbeat.com reports. The brokerage currently has a $150.00 price target on the scientific and technical instruments company’s stock, down from their previous price target of $170.00.

Other equities analysts have also issued research reports about the stock. Robert W. Baird set a $165.00 price objective on shares of Allegion in a research report on Wednesday, April 29th. Barclays cut 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 report on Wednesday, April 29th. Evercore raised shares of Allegion to a “strong-buy” rating in a research report on Monday, April 13th. 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. Finally, Wells Fargo & Company cut their price objective on shares of Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $161.50.

Allegion Stock Down 4.2%

Shares of NYSE ALLE opened at $125.62 on Friday. Allegion has a 12-month low of $125.57 and a 12-month high of $183.11. The company has a market capitalization of $10.80 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.19. The firm’s 50-day moving average is $142.38 and its two-hundred day moving average is $156.67.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (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 analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $1.86 earnings per share. Allegion’s revenue for the quarter was up 9.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities analysts anticipate that Allegion will post 8.73 EPS for the current fiscal year.

Allegion declared that its Board of Directors has approved 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 buy 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.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.20 annualized dividend and a yield of 1.8%. Allegion’s dividend payout ratio is 30.05%.

Insider Buying and Selling

In related news, Director Sue Main purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average price of $149.61 per share, with a total value of $299,220.00. Following the completion of the transaction, the director owned 2,000 shares of the company’s stock, valued at approximately $299,220. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert C. Martens sold 3,993 shares of the company’s stock in a transaction that occurred 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 transaction, 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 5,393 shares of company stock valued at $774,666. Insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Allegion

Institutional investors and hedge funds have recently bought and sold shares of the stock. Westside Investment Management Inc. increased its position in Allegion by 100.0% during the third quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 70 shares during the last quarter. Pinnacle Bancorp Inc. increased its position in shares of Allegion by 255.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 115 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Allegion in the third quarter worth $26,000. Hantz Financial Services Inc. increased its position in shares of Allegion by 120.9% in the third quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Allegion in the third quarter worth $29,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.