Allegion PLC $ALLE Shares Acquired by Hawk Ridge Capital Management LP

Hawk Ridge Capital Management LP increased its holdings in shares of Allegion PLC (NYSE:ALLE - Free Report) by 32.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 802,807 shares of the scientific and technical instruments company's stock after purchasing an additional 198,800 shares during the quarter. Allegion accounts for 4.2% of Hawk Ridge Capital Management LP's holdings, making the stock its 8th biggest position. Hawk Ridge Capital Management LP owned approximately 0.93% of Allegion worth $116,640,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new position in Allegion in the fourth quarter valued at approximately $131,523,000. Panagora Asset Management Inc. increased its position in shares of Allegion by 191.8% during the fourth quarter. Panagora Asset Management Inc. now owns 624,297 shares of the scientific and technical instruments company's stock worth $99,401,000 after acquiring an additional 410,346 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of Allegion by 2,013.5% during the first quarter. IFM Investors Pty Ltd now owns 355,233 shares of the scientific and technical instruments company's stock worth $51,612,000 after acquiring an additional 338,425 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Allegion by 163.9% during the fourth quarter. Franklin Resources Inc. now owns 529,243 shares of the scientific and technical instruments company's stock worth $84,266,000 after acquiring an additional 328,701 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Allegion by 817.1% during the third quarter. Millennium Management LLC now owns 308,430 shares of the scientific and technical instruments company's stock worth $54,700,000 after acquiring an additional 274,800 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Stock Performance

Shares of ALLE stock opened at $158.24 on Tuesday. Allegion PLC has a 12 month low of $125.00 and a 12 month high of $183.11. The company's fifty day simple moving average is $135.40 and its 200-day simple moving average is $146.69. The firm has a market cap of $13.60 billion, a PE ratio of 20.77, a P/E/G ratio of 3.12 and a beta of 0.85. The company has a quick ratio of 1.23, a current ratio of 1.93 and a debt-to-equity ratio of 0.96.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.22 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 35.41%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm earned $2.04 earnings per share. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. Equities research analysts expect that Allegion PLC will post 8.92 EPS for the current fiscal year.

Allegion declared that its Board of Directors has approved a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ALLE shares. Longbow Research raised shares of Allegion from a "neutral" rating to a "buy" rating and set a $165.00 target price for the company in a research note on Thursday, June 11th. Weiss Ratings downgraded Allegion from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 29th. Morgan Stanley cut their price target on Allegion from $165.00 to $142.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 3rd. JPMorgan Chase & Co. boosted their price target on Allegion from $150.00 to $170.00 and gave the company a "neutral" rating in a report on Friday. Finally, Evercore raised Allegion to a "strong-buy" rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $164.75.

Insider Activity at Allegion

In other news, SVP Robert C. Martens sold 3,993 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was 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 owned 8,570 shares in the company, valued at $1,175,375.50. This trade represents a 31.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is currently owned by corporate insiders.

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.

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