Louisiana State Employees Retirement System Makes New $639,000 Investment in Allegion PLC $ALLE

Louisiana State Employees Retirement System purchased a new position in Allegion PLC (NYSE:ALLE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,400 shares of the scientific and technical instruments company’s stock, valued at approximately $639,000.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Allegion during the fourth quarter worth $131,523,000. Panagora Asset Management Inc. lifted its holdings in Allegion by 191.8% in the fourth 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 period. Franklin Resources Inc. boosted its position in Allegion by 163.9% during the fourth 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 during the last quarter. Millennium Management LLC grew its holdings 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 worth $54,700,000 after acquiring an additional 274,800 shares during the period. Finally, State Street Corp grew its holdings in Allegion by 6.6% during the 3rd quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock worth $750,584,000 after acquiring an additional 260,973 shares during the period. 92.21% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Robert C. Martens sold 3,993 shares of the 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 transaction, the senior vice president directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALLE. Robert W. Baird set a $165.00 price objective on Allegion in a research note on Wednesday, April 29th. Longbow Research upgraded Allegion from a “neutral” rating to a “buy” rating and set a $165.00 target price for the company in a report on Thursday, June 11th. 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. Finally, Morgan Stanley reduced their price objective on shares of Allegion from $165.00 to $142.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $160.89.

Allegion Price Performance

ALLE stock opened at $139.30 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.19. The company’s 50-day moving average is $133.52 and its 200-day moving average is $148.63. The stock has a market capitalization of $11.97 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 2.91 and a beta of 0.85. Allegion PLC has a 1 year low of $125.00 and a 1 year high of $183.11.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.08). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities research analysts expect that Allegion PLC will post 8.73 EPS for the current fiscal year.

Allegion declared that its board has authorized a share repurchase plan on Tuesday, April 28th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis 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%.

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.