Sumitomo Mitsui Trust Group Inc. Lowers Stake in Allegion PLC $ALLE

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Allegion PLC (NYSE:ALLE) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,709 shares of the scientific and technical instruments company’s stock after selling 17,145 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Allegion worth $26,982,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC purchased a new stake in shares of Allegion during the fourth quarter valued at about $2,833,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Allegion by 5.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 181,501 shares of the scientific and technical instruments company’s stock worth $29,205,000 after buying an additional 9,598 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Allegion by 793.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 45,002 shares of the scientific and technical instruments company’s stock worth $7,165,000 after acquiring an additional 39,964 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Allegion by 2,028.5% during the 4th quarter. SG Americas Securities LLC now owns 193,651 shares of the scientific and technical instruments company’s stock worth $30,833,000 after acquiring an additional 184,553 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Allegion by 50.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 23,115 shares of the scientific and technical instruments company’s stock valued at $3,683,000 after acquiring an additional 7,776 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALLE. Robert W. Baird set a $165.00 target price on shares of 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 price objective for the company in a report on Thursday, June 11th. Evercore raised Allegion to a “strong-buy” rating in a research report on Monday, April 13th. Wells Fargo & Company dropped their target price on Allegion from $175.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Finally, Bank of America reduced their target price on Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Allegion has an average rating of “Hold” and an average target price of $160.89.

Allegion Trading Down 0.0%

NYSE:ALLE opened at $136.62 on Tuesday. The company has a market capitalization of $11.74 billion, a P/E ratio of 18.66, a PEG ratio of 2.84 and a beta of 0.85. The company has a current ratio of 1.91, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. Allegion PLC has a 12 month low of $125.00 and a 12 month high of $183.11. The firm has a fifty day simple moving average of $133.16 and a 200-day simple moving average of $147.94.

Allegion (NYSE:ALLE) last issued its 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). Allegion had a return on equity of 35.41% and a net margin of 15.24%.The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business earned $1.86 EPS. The business’s revenue was up 9.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, equities research analysts anticipate that Allegion PLC will post 8.74 earnings per share for the current year.

Allegion Dividend Announcement

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

Allegion announced that its Board of Directors has approved a stock repurchase plan 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 purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Allegion

In related news, SVP Robert C. Martens sold 3,993 shares of Allegion stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $137.15, for a total transaction of $547,639.95. Following the completion of the sale, the senior vice president owned 8,570 shares of the company’s stock, valued at $1,175,375.50. The trade was a 31.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.64% of the stock is owned by company 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.