Lafayette Investments Inc. Has $3.84 Million Stock Position in Allegion PLC $ALLE

Lafayette Investments Inc. lowered its position in shares of Allegion PLC (NYSE:ALLE) by 15.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,088 shares of the scientific and technical instruments company’s stock after selling 4,562 shares during the quarter. Lafayette Investments Inc.’s holdings in Allegion were worth $3,835,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. lifted its holdings in shares of Allegion by 100.0% during the third quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 70 shares in the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of Allegion by 255.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 115 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Allegion during the third quarter worth $26,000. Hantz Financial Services Inc. lifted its holdings in shares of Allegion by 120.9% during the third quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Allegion during the third quarter worth $29,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Down 1.4%

ALLE stock opened at $132.55 on Tuesday. The company has a market cap of $11.39 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89. The business has a 50-day simple moving average of $144.78 and a 200 day simple moving average of $157.74. Allegion PLC has a 52 week low of $131.22 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.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.08). The company had revenue of $1.03 billion during 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 firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Sell-side analysts anticipate that Allegion PLC will post 8.73 EPS for the current fiscal year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. Allegion’s payout ratio is 30.05%.

Allegion declared that its Board of Directors has approved a stock buyback 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 reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Robert W. Baird set a $165.00 target price on Allegion in a report on Wednesday, April 29th. Weiss Ratings downgraded Allegion from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Bank of America dropped their target price on Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, April 20th. JPMorgan Chase & Co. dropped their price target on Allegion from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company dropped their price target on Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $164.00.

Insider Activity at Allegion

In related news, Director Steven Mizell sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $161.51, for a total value of $161,510.00. Following the completion of the transaction, the director owned 4,915 shares of the company’s stock, valued at $793,821.65. The trade was a 16.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert C. Martens sold 3,993 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $137.15, for a total value of $547,639.95. Following the transaction, the senior vice president directly owned 8,570 shares of the company’s stock, valued at approximately $1,175,375.50. The trade was a 31.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 5,393 shares of company stock valued at $774,666 over the last quarter. 0.64% of the stock is owned by corporate insiders.

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.