Allegion PLC $ALLE Stock Acquired by Novem Group

Novem Group grew its holdings in Allegion PLC (NYSE:ALLE) by 417.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,735 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,048 shares during the quarter. Novem Group’s holdings in Allegion were worth $1,343,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. IFM Investors Pty Ltd increased its stake in Allegion by 2,013.5% during the 1st quarter. IFM Investors Pty Ltd now owns 355,233 shares of the scientific and technical instruments company’s stock worth $51,612,000 after buying an additional 338,425 shares during the period. Wellington Management Group LLP lifted its holdings in Allegion by 964.6% during the 2nd quarter. Wellington Management Group LLP now owns 356,725 shares of the scientific and technical instruments company’s stock worth $50,116,000 after buying an additional 323,218 shares in the last quarter. Hawk Ridge Capital Management LP boosted its position in Allegion by 32.9% in the 1st quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock valued at $116,640,000 after buying an additional 198,800 shares during the period. Rit Capital Partners PLC purchased a new position in Allegion in the 1st quarter valued at approximately $21,786,000. Finally, Hsbc Holdings PLC boosted its position in Allegion by 408.0% in the 1st quarter. Hsbc Holdings PLC now owns 175,098 shares of the scientific and technical instruments company’s stock valued at $25,409,000 after buying an additional 140,629 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Down 0.7%

NYSE:ALLE traded down $1.15 during mid-day trading on Monday, hitting $155.39. The stock had a trading volume of 834,321 shares, compared to its average volume of 1,093,186. Allegion PLC has a twelve month low of $125.00 and a twelve month high of $183.11. The stock has a 50-day simple moving average of $156.42 and a two-hundred day simple moving average of $145.59. The company has a current ratio of 1.93, a quick ratio of 1.23 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $13.21 billion, a PE ratio of 20.39, a PEG ratio of 3.18 and a beta of 0.81.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.22 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 35.41%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the business posted $2.04 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. On average, equities research analysts anticipate that Allegion PLC will post 8.94 EPS for the current year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 15th. Allegion’s payout ratio is 28.87%.

Insider Activity

In other news, Director Steven Mizell bought 170 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average price of $158.28 per share, for a total transaction of $26,907.60. Following the completion of the purchase, the director owned 5,899 shares in the company, valued at approximately $933,693.72. This trade represents a 2.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Wagnes sold 3,184 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $150.98, for a total value of $480,720.32. Following the completion of the transaction, the chief financial officer directly owned 31,299 shares in the company, valued at $4,725,523.02. This trade represents a 9.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 11,288 shares of company stock valued at $1,764,593. Insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Weiss Ratings raised Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Evercore reiterated an “outperform” rating and issued a $180.00 price objective on shares of Allegion in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. lifted their target price on Allegion from $150.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Robert W. Baird set a $170.00 target price on Allegion in a research note on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $162.50.

Allegion Profile

Allegion plc (NYSE:ALLE) is a global security products and solutions company focused on protecting people and property. Its portfolio includes mechanical and electronic locks, access control systems, door closers, exit devices, door controls, and commercial doors and frames.

The company serves commercial, institutional, industrial, and residential customers through well-known brands including Schlage, Von Duprin, LCN, Steelcraft, Briton, and aptiQ. Its offerings range from traditional hardware to connected and electronic access solutions designed for offices, schools, healthcare facilities, multifamily properties, and homes.

Allegion was established as an independent public company in 2013 following its separation from Ingersoll Rand.