Allegion Public Limited Company (ALLE)

Allegion Plc's stock has experienced a rise of 14.40% in the past six months and a 12.01% increase over the last month. Key events impacting the stock price include strong Q4 2024 financial results and a positive 2025 outlook, dividend increases, and strategic acquisitions of ELATEC, Novas, Gatewise, and Waitwhile Inc. Analyst ratings and price targets have also influenced the stock, with Morgan Stanley adjusting their price target to $151 and JPMorgan initiating coverage with an Overweight rating.

Allegion's business experiences seasonality that varies by product and service line. Sales of security products related to construction and DIY projects are typically higher during the second and third calendar quarters in the Northern Hemisphere. Certain other businesses within Allegion typically experience higher sales in the fourth quarter due to demand for services and project timing. In 2023, the Allegion Americas segment experienced stable demand for its non-residential products and services, while residential product demand was negatively impacted by macroeconomic conditions. Growth in electronic security products and solutions has remained strong.

Allegion Plc is a global provider of security products and solutions, operating in the Consumer Durables sector and the Tools & Hardware industry. The company's core business revolves around pioneering safety and security through seamless access experiences, offering mechanical and electronic security products and solutions. Major products include electronic security products and access control systems, locks and key systems, door controls and systems, doors and accessories, and services and software. Allegion markets its products under more than 30 brands, serving a wide range of end-users in commercial, institutional, and residential facilities.

Allegion has a significant global presence, with sales and corporate offices, as well as engineering and technical centers, spanning the Americas, Europe, and Asia. The company operates in over 120 countries and has more than 30 primary production, assembly, and distribution facilities worldwide. Its corporate headquarters are in Dublin, Ireland, with regional corporate centers in Carmel, Indiana; Brussels, Belgium; and Shanghai, China. In fiscal year 2024, over 75% of Allegion's sales were generated in the United States.

Allegion's brands are considered important assets, enjoying a reputation for quality and value. The company emphasizes its commitment to innovation, quality, and customer satisfaction. In 2023, Allegion recorded intangible asset impairment charges totaling $7.5 million in its Allegion International segment, related to declines in volumes which reduced the expected future cash flows of two indefinite-lived trade names. The company's public communications and financial reports generally highlight positive developments, such as product launches and strategic acquisitions.

Allegion is primarily owned by institutional shareholders, who hold approximately 96.20% of the company's stock. Individual Allegion insiders own about 0.90%, and retail investors hold 2.90%. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., Kayne Anderson Rudnick Investment Management Llc, Boston Partners, State Street Corp, Van Eck Associates Corp and Geode Capital Management, Llc.