Allegion (NYSE:ALLE) CAO Nickolas Musial Sells 687 Shares of Stock

Allegion PLC (NYSE:ALLE) CAO Nickolas Musial sold 687 shares of Allegion stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $155.00, for a total transaction of $106,485.00. Following the completion of the transaction, the chief accounting officer directly owned 6,798 shares in the company, valued at approximately $1,053,690. The trade was a 9.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Allegion Stock Up 2.3%

ALLE stock traded up $3.62 on Tuesday, hitting $161.75. 460,604 shares of the company’s stock were exchanged, compared to its average volume of 1,048,961. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.93. Allegion PLC has a 12-month low of $125.00 and a 12-month high of $183.11. The stock has a market cap of $13.90 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 3.12 and a beta of 0.85. The firm has a 50 day moving average price of $135.40 and a two-hundred day moving average price of $146.69.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.18. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Allegion had a net margin of 15.36% and a return on equity of 35.41%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. As a group, equities research analysts expect that Allegion PLC will post 8.92 EPS for the current fiscal year.

Allegion announced that its Board of Directors has approved a share repurchase program on Tuesday, April 28th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Allegion

A number of institutional investors and hedge funds have recently bought and sold shares of ALLE. Handelsbanken Fonder AB grew its stake in Allegion by 43.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 38,900 shares of the scientific and technical instruments company’s stock valued at $5,465,000 after purchasing an additional 11,700 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its holdings in shares of Allegion by 16.2% during the second quarter. Franklin Street Advisors Inc. NC now owns 2,384 shares of the scientific and technical instruments company’s stock valued at $335,000 after acquiring an additional 332 shares during the period. Crumly & Associates Inc. raised its holdings in shares of Allegion by 20.8% during the second quarter. Crumly & Associates Inc. now owns 2,580 shares of the scientific and technical instruments company’s stock valued at $362,000 after buying an additional 444 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in shares of Allegion by 1,666.7% during the second quarter. Elevation Wealth Partners LLC now owns 212 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Finally, Czech National Bank increased its stake in shares of Allegion by 4.4% during the second quarter. Czech National Bank now owns 24,461 shares of the scientific and technical instruments company’s stock valued at $3,437,000 after acquiring an additional 1,031 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLE has been the topic of a number of research analyst reports. Evercore raised Allegion to a “strong-buy” rating in a research note on Monday, April 13th. Bank of America cut their price target on Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Robert W. Baird set a $170.00 target price on Allegion in a research report on Friday. Longbow Research upgraded Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price target on the stock in a research note on Thursday, June 11th. Finally, JPMorgan Chase & Co. upped their price target on Allegion from $150.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Allegion currently has a consensus rating of “Hold” and an average target price of $164.75.

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.