IFM Investors Pty Ltd Acquires 338,425 Shares of Allegion PLC $ALLE

IFM Investors Pty Ltd lifted its holdings in Allegion PLC (NYSE:ALLE) by 2,013.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 355,233 shares of the scientific and technical instruments company’s stock after purchasing an additional 338,425 shares during the period. IFM Investors Pty Ltd’s holdings in Allegion were worth $51,612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Allegion during the fourth quarter valued at approximately $131,523,000. Panagora Asset Management Inc. lifted its holdings in Allegion by 191.8% during the fourth quarter. Panagora Asset Management Inc. now owns 624,297 shares of the scientific and technical instruments company’s stock worth $99,401,000 after buying an additional 410,346 shares during the period. Franklin Resources Inc. boosted its position in Allegion by 163.9% during the 4th quarter. Franklin Resources Inc. now owns 529,243 shares of the scientific and technical instruments company’s stock valued at $84,266,000 after acquiring an additional 328,701 shares in the last quarter. Millennium Management LLC boosted its position in Allegion by 817.1% during the 3rd quarter. Millennium Management LLC now owns 308,430 shares of the scientific and technical instruments company’s stock valued at $54,700,000 after acquiring an additional 274,800 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Allegion by 6.6% in the 3rd quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock valued at $750,584,000 after acquiring an additional 260,973 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Insider Transactions at Allegion

In related news, SVP Robert C. Martens sold 3,993 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was 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 owned 8,570 shares in the company, valued at $1,175,375.50. This trade represents a 31.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ALLE. Morgan Stanley reduced their price target on Allegion from $165.00 to $142.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. Bank of America cut their target price on Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Barclays reduced their target price on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Longbow Research raised shares of Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price target for the company in a research report on Thursday, June 11th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $150.00 price target (down from $170.00) on shares of Allegion in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $160.89.

Allegion Stock Up 0.6%

ALLE stock opened at $140.44 on Wednesday. The stock has a market capitalization of $12.07 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 2.90 and a beta of 0.86. Allegion PLC has a 52 week low of $125.00 and a 52 week high of $183.11. The company has a quick ratio of 1.19, a current ratio of 1.91 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average of $134.06 and a 200 day moving average of $149.39.

Allegion (NYSE:ALLE) last issued 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 analysts’ consensus estimates of $1.88 by ($0.08). The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Allegion had a net margin of 15.24% and a return on equity of 35.41%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Sell-side analysts forecast that Allegion PLC will post 8.73 earnings per share for the current year.

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

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 15th. Allegion’s dividend payout ratio is presently 30.05%.

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.