Panagora Asset Management Inc. Grows Position in Allegion PLC $ALLE

Panagora Asset Management Inc. grew its holdings in Allegion PLC (NYSE:ALLE) by 191.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 624,297 shares of the scientific and technical instruments company’s stock after acquiring an additional 410,346 shares during the period. Panagora Asset Management Inc.’s holdings in Allegion were worth $99,401,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ALLE. Norges Bank purchased a new stake in shares of Allegion in the 4th quarter valued at $131,523,000. Franklin Resources Inc. boosted its holdings in shares of Allegion by 163.9% in 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 during the last quarter. Millennium Management LLC boosted its holdings in shares of Allegion by 817.1% in 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 during the last quarter. State Street Corp boosted 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 last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Allegion by 10.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,593,117 shares of the scientific and technical instruments company’s stock valued at $412,876,000 after acquiring an additional 236,248 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Stock Performance

ALLE opened at $133.95 on Monday. 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 firm has a fifty day moving average price of $136.11 and a 200 day moving average price of $151.76. Allegion PLC has a 1 year low of $125.00 and a 1 year high of $183.11. The stock has a market cap of $11.51 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.79 and a beta of 0.87.

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

Allegion Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, June 15th. Allegion’s payout ratio is currently 30.05%.

Allegion declared that its board has authorized a share buyback program on Tuesday, April 28th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings downgraded shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 29th. Barclays dropped their price objective on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating on the stock 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 objective on the stock in a report on Thursday. Evercore raised shares of Allegion to a “strong-buy” rating in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $150.00 target price (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $160.89.

Insider Activity

In related news, SVP Robert C. Martens sold 3,993 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were 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 directly owned 8,570 shares in the company, valued at $1,175,375.50. The trade was a 31.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.64% of the stock is currently 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.