Hsbc Holdings PLC Has $8.67 Million Stock Position in Allegion PLC $ALLE

Key Points

• Hsbc Holdings PLC reduced its stake in Allegion PLC by 33.7% during Q1, now owning approximately 0.08% of the company valued at $8.67 million.
• Several institutional investors increased their holdings in Allegion, with Fuller & Thaler Asset Management growing its position by 102.3% during the same period.
• Allegion reported Q2 earnings of $2.04 per share, beating estimates, with revenue of $1.02 billion, marking a 5.8% year-over-year growth.

Hsbc Holdings PLC lessened its holdings in shares of Allegion PLC (NYSE:ALLE - Free Report) by 33.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 67,308 shares of the scientific and technical instruments company's stock after selling 34,190 shares during the period. Hsbc Holdings PLC owned 0.08% of Allegion worth $8,667,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Allegion by 0.5% during the first quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company's stock worth $1,404,672,000 after purchasing an additional 48,615 shares in the last quarter. Boston Partners lifted its position in Allegion by 0.8% in the 1st quarter. Boston Partners now owns 4,752,391 shares of the scientific and technical instruments company's stock valued at $619,700,000 after acquiring an additional 35,635 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Allegion by 6.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,147,110 shares of the scientific and technical instruments company's stock valued at $280,112,000 after buying an additional 136,638 shares during the last quarter. Brown Advisory Inc. lifted its position in Allegion by 13.2% during the 1st quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock worth $279,379,000 after buying an additional 249,295 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Allegion by 19.2% during the 4th quarter. Deutsche Bank AG now owns 1,641,810 shares of the scientific and technical instruments company's stock worth $214,552,000 after buying an additional 264,379 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Allegion Price Performance

Shares of Allegion stock traded down $1.65 on Friday, reaching $169.33. 346,065 shares of the stock were exchanged, compared to its average volume of 971,281. The firm's 50 day moving average is $157.68 and its 200-day moving average is $141.44. Allegion PLC has a one year low of $116.57 and a one year high of $172.95. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30. The firm has a market cap of $14.54 billion, a PE ratio of 23.51, a P/E/G ratio of 3.70 and a beta of 1.05.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, beating the consensus estimate of $2.00 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, analysts anticipate that Allegion PLC will post 7.77 EPS for the current fiscal year.

Insider Activity at Allegion

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the transaction, the senior vice president directly owned 30,023 shares in the company, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction of $634,777.08. Following the completion of the transaction, the senior vice president owned 8,773 shares of the company's stock, valued at approximately $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ALLE has been the topic of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Barclays upgraded shares of Allegion from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $156.00 to $163.00 in a research note on Thursday, August 14th. Mizuho upped their price target on shares of Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. started coverage on shares of Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price target on the stock. Finally, Bank of America upgraded shares of Allegion from an "underperform" rating to a "neutral" rating and upped their price target for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $166.75.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.