First Trust Advisors LP Reduces Stake in Allegion PLC $ALLE

First Trust Advisors LP lessened its holdings in shares of Allegion PLC (NYSE:ALLE) by 4.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 244,832 shares of the scientific and technical instruments company’s stock after selling 11,216 shares during the period. First Trust Advisors LP owned 0.28% of Allegion worth $35,572,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new stake in Allegion during the fourth quarter worth approximately $2,833,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Allegion by 5.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 181,501 shares of the scientific and technical instruments company’s stock worth $29,205,000 after buying an additional 9,598 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Allegion by 793.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 45,002 shares of the scientific and technical instruments company’s stock valued at $7,165,000 after buying an additional 39,964 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Allegion by 50.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 23,115 shares of the scientific and technical instruments company’s stock valued at $3,683,000 after buying an additional 7,776 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of Allegion by 191.8% in the 4th quarter. Panagora Asset Management Inc. now owns 624,297 shares of the scientific and technical instruments company’s stock valued at $99,401,000 after buying an additional 410,346 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 3.2%

Shares of Allegion stock opened at $158.24 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.93 and a debt-to-equity ratio of 0.96. The company’s 50-day simple moving average is $135.40 and its 200-day simple moving average is $146.69. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $183.11. The firm has a market cap of $13.60 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 3.12 and a beta of 0.85.

Allegion (NYSE:ALLE) last issued its 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 the consensus estimate of $1.12 billion. Allegion had a return on equity of 35.41% and a net margin of 15.36%.The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.04 EPS. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. As a group, equities research analysts anticipate that Allegion PLC will post 8.92 earnings per share for the current year.

Allegion declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 28th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the scientific and technical instruments company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ALLE. Morgan Stanley cut their price target on shares of Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Weiss Ratings cut Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Evercore raised Allegion to a “strong-buy” rating in a report on Monday, April 13th. Wells Fargo & Company decreased their target price on Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Finally, Robert W. Baird set a $170.00 price target on Allegion in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $164.75.

Insider Transactions at Allegion

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $137.15, for a total value of $547,639.95. Following the completion of the transaction, the senior vice president directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.64% 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.