Picton Mahoney Asset Management Buys 7,091 Shares of Allegion PLC $ALLE

Picton Mahoney Asset Management boosted its stake in shares of Allegion PLC (NYSE:ALLE) by 168.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 11,302 shares of the scientific and technical instruments company’s stock after buying an additional 7,091 shares during the quarter. Picton Mahoney Asset Management’s holdings in Allegion were worth $2,005,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ALLE. Westside Investment Management Inc. lifted its position in Allegion by 100.0% in the third quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 70 shares during the last quarter. First Horizon Corp purchased a new position in shares of Allegion in the third quarter worth $26,000. Hantz Financial Services Inc. raised its holdings in Allegion by 120.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Allegion during the 3rd quarter valued at $29,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in Allegion during the 2nd quarter valued at $33,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Trading Down 2.9%

NYSE ALLE opened at $152.15 on Friday. The firm has a market capitalization of $13.11 billion, a PE ratio of 20.45, a P/E/G ratio of 3.39 and a beta of 1.03. The stock’s 50 day moving average is $165.03 and its 200 day moving average is $167.61. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $183.11. The company has a quick ratio of 1.16, a current ratio of 1.84 and a debt-to-equity ratio of 0.96.

Allegion (NYSE:ALLE) last announced its quarterly earnings data 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 net margin of 15.83% and a return on equity of 38.06%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the business posted $1.86 EPS. The business’s quarterly 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. Research analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from Allegion’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 1.4%. Allegion’s payout ratio is presently 27.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ALLE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research note on Wednesday, January 21st. Wells Fargo & Company restated a “positive” rating on shares of Allegion in a report on Tuesday, December 16th. Barclays lowered their price target on Allegion from $180.00 to $176.00 and set an “equal weight” rating for the company in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Allegion from $190.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $175.00.

Insiders Place Their Bets

In other Allegion news, Director Steven Mizell sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $161.51, for a total transaction of $161,510.00. Following the completion of the transaction, the director owned 4,915 shares of the company’s stock, valued at approximately $793,821.65. This trade represents a 16.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% of the company’s stock.

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.