Fox Run Management L.L.C. Takes Position in Allegion PLC $ALLE

Key Points

• Fox Run Management opened a new position in Allegion during the fourth quarter, buying 8,282 shares valued at about $1.32 million.
• Allegion reported Q1 earnings of $1.80 per share, missing estimates of $1.88, while revenue of $1.03 billion matched expectations 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, equal to a 1.7% annualized yield.

Fox Run Management L.L.C. acquired a new stake in Allegion PLC (NYSE:ALLE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,282 shares of the scientific and technical instruments company's stock, valued at approximately $1,319,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ALLE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Allegion by 7.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,592 shares of the scientific and technical instruments company's stock valued at $1,251,000 after purchasing an additional 626 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Allegion by 35.3% in the first quarter. NewEdge Advisors LLC now owns 3,272 shares of the scientific and technical instruments company's stock valued at $427,000 after purchasing an additional 854 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Allegion by 44.2% in the first quarter. Jones Financial Companies Lllp now owns 1,629 shares of the scientific and technical instruments company's stock valued at $213,000 after purchasing an additional 499 shares during the period. Empowered Funds LLC boosted its stake in shares of Allegion by 13.0% in the first quarter. Empowered Funds LLC now owns 5,673 shares of the scientific and technical instruments company's stock valued at $740,000 after purchasing an additional 651 shares during the period. Finally, Focus Partners Wealth boosted its stake in shares of Allegion by 204.5% in the first quarter. Focus Partners Wealth now owns 7,186 shares of the scientific and technical instruments company's stock valued at $937,000 after purchasing an additional 4,826 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Stock Up 2.7%

Shares of Allegion stock opened at $131.06 on Wednesday. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $183.11. The company has a 50 day moving average of $136.80 and a 200 day moving average of $152.38. The company has a quick ratio of 1.19, a current ratio of 1.91 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $11.26 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.65 and a beta of 0.86.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.88 by ($0.08). Allegion had a return on equity of 35.41% and a net margin of 15.24%.The firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. The firm's revenue was up 9.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, research analysts forecast that Allegion PLC will post 8.73 EPS for the current fiscal year.

Allegion announced that its board has authorized a share repurchase program on Tuesday, April 28th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.55 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.7%. Allegion's payout ratio is currently 30.05%.

Insider Transactions at Allegion

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $137.15, for a total transaction of $547,639.95. Following the sale, the senior vice president 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ALLE. Robert W. Baird set a $165.00 price objective on shares of Allegion in a research note on Wednesday, April 29th. Wells Fargo & Company lowered their price objective on shares of Allegion from $175.00 to $155.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 1st. Bank of America lowered their price objective on shares of Allegion from $185.00 to $157.00 and set a "neutral" rating for the company in a research note on Monday, April 20th. Barclays lowered their price objective on shares of Allegion from $165.00 to $161.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $150.00 price target (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $160.38.

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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