Andra AP fonden Has $28.82 Million Stock Position in Allegion PLC $ALLE

Key Points

• Andra AP fonden increased its Allegion stake by 29.8% in the fourth quarter, buying 41,600 more shares and bringing its total to 181,000 shares valued at about $28.8 million.
• Allegion’s latest earnings fell slightly short of expectations, with Q1 EPS of $1.80 versus the $1.88 estimate, though revenue matched forecasts at $1.03 billion and rose 9.7% year over year.
• The company authorized a $500 million share repurchase program and declared a quarterly dividend of $0.55 per share, signaling continued capital returns to shareholders despite mixed analyst sentiment and recent target price cuts.

Andra AP fonden raised its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 29.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 181,000 shares of the scientific and technical instruments company's stock after buying an additional 41,600 shares during the quarter. Andra AP fonden owned 0.21% of Allegion worth $28,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALLE. Norges Bank acquired a new stake in Allegion in the 4th quarter valued at approximately $131,523,000. Franklin Resources Inc. grew its holdings in shares of Allegion by 163.9% during the 4th quarter. Franklin Resources Inc. now owns 529,243 shares of the scientific and technical instruments company's stock worth $84,266,000 after purchasing an additional 328,701 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Allegion by 817.1% during the 3rd quarter. Millennium Management LLC now owns 308,430 shares of the scientific and technical instruments company's stock worth $54,700,000 after purchasing an additional 274,800 shares in the last quarter. State Street Corp grew 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 worth $750,584,000 after purchasing an additional 260,973 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of 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 purchasing an additional 236,248 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Allegion Trading Up 3.5%

Shares of ALLE opened at $133.94 on Friday. The stock has a fifty day moving average price of $136.31 and a two-hundred day moving average price of $151.96. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $183.11. The company has a market cap of $11.51 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.69 and a beta of 0.86.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (EPS) 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 business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted $1.86 EPS. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Analysts predict that Allegion PLC will post 8.73 EPS for the current fiscal year.

Allegion announced that its Board of Directors has approved a share repurchase program 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 repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.55 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.20 annualized dividend and a yield of 1.6%. Allegion's payout ratio is presently 30.05%.

Insider Transactions at Allegion

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of Allegion stock in a transaction on 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 approximately $1,175,375.50. The trade was a 31.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.64% of the company's stock.

Analyst Ratings Changes

ALLE has been the topic of several recent research reports. Morgan Stanley decreased their price objective on Allegion from $165.00 to $142.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 3rd. Weiss Ratings lowered Allegion from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 29th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $150.00 price objective (down from $170.00) on shares of Allegion in a report on Friday, May 15th. Evercore raised Allegion to a "strong-buy" rating in a report on Monday, April 13th. Finally, Wells Fargo & Company cut their target price on Allegion from $175.00 to $155.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 1st. One investment 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $160.89.

Allegion Company 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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