Vaughan Nelson Investment Management L.P. Acquires 28,355 Shares of Allegion PLC $ALLE

Vaughan Nelson Investment Management L.P. raised its stake in Allegion PLC (NYSE:ALLE) by 22.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,511 shares of the scientific and technical instruments company’s stock after acquiring an additional 28,355 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.18% of Allegion worth $22,304,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ALLE. Boston Partners grew its stake in shares of Allegion by 1.0% during the third quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company’s stock worth $842,026,000 after buying an additional 48,199 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 valued at $750,584,000 after acquiring an additional 260,973 shares in the last quarter. Geode Capital Management LLC grew its position in Allegion by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,693,831 shares of the scientific and technical instruments company’s stock worth $427,521,000 after acquiring an additional 13,880 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Allegion by 10.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,593,117 shares of the scientific and technical instruments company’s stock worth $412,876,000 after acquiring an additional 236,248 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Allegion by 12.7% in the 4th quarter. Invesco Ltd. now owns 1,402,682 shares of the scientific and technical instruments company’s stock worth $223,335,000 after purchasing an additional 157,724 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $137.15, for a total transaction of $547,639.95. Following the completion of the transaction, the senior vice president owned 8,570 shares in the company, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Longbow Research upgraded Allegion from a “neutral” rating to a “buy” rating and set a $165.00 target price for the company in a research report on Thursday, June 11th. Morgan Stanley lowered their price objective on Allegion from $165.00 to $142.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. Evercore upgraded shares of Allegion to a “strong-buy” rating in a report on Monday, April 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $150.00 target price (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. Finally, Barclays reduced their target price 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. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Allegion currently has an average rating of “Hold” and an average target price of $160.89.

Allegion Stock Down 2.2%

Shares of ALLE opened at $130.69 on Tuesday. The stock’s 50-day moving average price is $134.98 and its two-hundred day moving average price is $150.38. Allegion PLC has a 12 month low of $125.00 and a 12 month high of $183.11. The company has a market capitalization of $11.23 billion, a PE ratio of 17.85, a PEG ratio of 2.78 and a beta of 0.87. 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 (NYSE:ALLE) last issued its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share 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 company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $1.86 EPS. The company’s quarterly 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, analysts anticipate that Allegion PLC will post 8.73 EPS for the current year.

Allegion declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 28th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the scientific and technical instruments company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.55 per share. 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 dividend payout ratio is currently 30.05%.

Allegion Profile

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.