Van ECK Associates Corp Reduces Position in Allegion PLC $ALLE

Van ECK Associates Corp lowered its holdings in Allegion PLC (NYSE:ALLE) by 45.8% in the third quarter, HoldingsChannel reports. The firm owned 1,582,710 shares of the scientific and technical instruments company’s stock after selling 1,337,703 shares during the period. Van ECK Associates Corp’s holdings in Allegion were worth $280,693,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Berkshire Hathaway Inc purchased a new stake in Allegion during the 2nd quarter worth approximately $112,433,000. Norges Bank acquired a new stake in shares of Allegion during the second quarter worth approximately $109,862,000. Geode Capital Management LLC raised its holdings in Allegion by 15.2% in the second quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock valued at $369,514,000 after acquiring an additional 339,025 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Allegion by 114.4% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 349,856 shares of the scientific and technical instruments company’s stock valued at $50,421,000 after acquiring an additional 186,706 shares during the last quarter. Finally, Barclays PLC grew its holdings in Allegion by 67.2% during the 3rd quarter. Barclays PLC now owns 431,741 shares of the scientific and technical instruments company’s stock worth $76,569,000 after acquiring an additional 173,483 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Trading Down 0.1%

NYSE ALLE opened at $150.26 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.16 and a current ratio of 1.84. Allegion PLC has a one year low of $116.57 and a one year high of $183.11. The company has a 50-day simple moving average of $164.60 and a 200-day simple moving average of $167.35. The firm has a market capitalization of $12.94 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 3.25 and a beta of 1.03.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.07). The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Allegion had a return on equity of 38.06% and a net margin of 15.83%.The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, equities analysts forecast that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. This is a positive change from Allegion’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, March 13th. Allegion’s dividend payout ratio is presently 27.42%.

Insider Activity at Allegion

In related news, Director Steven Mizell sold 1,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $161.51, for a total value of $161,510.00. Following the sale, the director owned 4,915 shares of the company’s stock, valued at $793,821.65. This trade represents a 16.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

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

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.