California Public Employees Retirement System Buys 7,840 Shares of Allegion PLC $ALLE

Key Points

• CalPERS increased its Allegion stake by 4.9% in the first quarter, buying 7,840 additional shares and bringing its total holding to 166,720 shares worth about $24.2 million.
• Wall Street remains cautious on ALLE, with a consensus rating of “Hold” and an average price target of $160.89 despite a few upgrades from firms like Longbow Research and Evercore.
• Allegion reported mixed fundamentals: quarterly EPS of $1.80 missed estimates, but revenue rose 9.7% year over year, and the company also authorized a $500 million share buyback program.

California Public Employees Retirement System grew its stake in Allegion PLC (NYSE:ALLE - Free Report) by 4.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 166,720 shares of the scientific and technical instruments company's stock after purchasing an additional 7,840 shares during the period. California Public Employees Retirement System owned about 0.19% of Allegion worth $24,223,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its holdings in shares of Allegion by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,817 shares of the scientific and technical instruments company's stock worth $1,563,000 after buying an additional 59 shares in the last quarter. Diversify Advisory Services LLC lifted its stake in shares of Allegion by 2.7% in the 3rd quarter. Diversify Advisory Services LLC now owns 2,308 shares of the scientific and technical instruments company's stock valued at $380,000 after acquiring an additional 60 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Allegion by 4.1% during the 4th quarter. D.A. Davidson & CO. now owns 1,612 shares of the scientific and technical instruments company's stock valued at $257,000 after acquiring an additional 63 shares in the last quarter. Banque de Luxembourg S.A. grew its position in Allegion by 0.3% during the 4th quarter. Banque de Luxembourg S.A. now owns 22,294 shares of the scientific and technical instruments company's stock worth $3,550,000 after acquiring an additional 65 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its position in Allegion by 45.9% during the 4th quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company's stock worth $34,000 after acquiring an additional 68 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Bank of America dropped their target price on Allegion from $185.00 to $157.00 and set a "neutral" rating for the company in a research report on Monday, April 20th. Longbow Research raised Allegion from a "neutral" rating to a "buy" rating and set a $165.00 price objective for the company in a research note on Thursday, June 11th. Evercore upgraded shares of Allegion to a "strong-buy" rating in a report on Monday, April 13th. Morgan Stanley cut their target price on shares of Allegion from $165.00 to $142.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 3rd. 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 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 company's stock. According to MarketBeat.com, Allegion has a consensus rating of "Hold" and a consensus target price of $160.89.

Insider Buying and Selling at Allegion

In other news, SVP Robert C. Martens sold 3,993 shares of Allegion 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 directly owned 8,570 shares of the company's stock, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.64% of the company's stock.

Allegion Stock Up 2.1%

Shares of NYSE ALLE opened at $140.19 on Thursday. The company's 50 day moving average price is $133.79 and its 200-day moving average price is $146.82. 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 capitalization of $12.05 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 2.85 and a beta of 0.85.

Allegion (NYSE:ALLE - Get Free Report) last announced its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.08). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.Allegion's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities analysts forecast that Allegion PLC will post 8.74 earnings per share for the current year.

Allegion declared that its board has initiated a share repurchase program on Tuesday, April 28th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

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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