Allegion PLC $ALLE is Hawk Ridge Capital Management LP's 2nd Largest Position

Key Points

• Hawk Ridge Capital Management LP increased its holdings in Allegion PLC by 12.2%, purchasing an additional 101,700 shares, making Allegion its second-largest holding.
• Several institutional investors, including Vanguard Group and Kayne Anderson Rudnick Investment Management, have also increased their stakes in Allegion during the first quarter of the year.
• Allegion reported quarterly earnings of $2.04 EPS, exceeding estimates, and has set its FY 2025 guidance at 8.000-8.150 EPS.

Hawk Ridge Capital Management LP increased its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 12.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 933,047 shares of the scientific and technical instruments company's stock after acquiring an additional 101,700 shares during the quarter. Allegion comprises approximately 5.7% of Hawk Ridge Capital Management LP's portfolio, making the stock its 2nd biggest position. Hawk Ridge Capital Management LP owned 1.08% of Allegion worth $121,725,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ALLE. AQR Capital Management LLC raised its holdings in Allegion by 380.0% in the first quarter. AQR Capital Management LLC now owns 1,118,960 shares of the scientific and technical instruments company's stock worth $142,707,000 after purchasing an additional 885,857 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Allegion by 22.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company's stock worth $623,104,000 after purchasing an additional 878,796 shares in the last quarter. Nuveen LLC bought a new position in Allegion in the first quarter worth $40,240,000. Squarepoint Ops LLC raised its holdings in Allegion by 11,506.8% in the fourth quarter. Squarepoint Ops LLC now owns 272,295 shares of the scientific and technical instruments company's stock worth $35,584,000 after purchasing an additional 269,949 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Allegion by 19.2% in the fourth quarter. Deutsche Bank AG now owns 1,641,810 shares of the scientific and technical instruments company's stock worth $214,552,000 after purchasing an additional 264,379 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Insider Transactions at Allegion

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was 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 owned 30,023 shares of the company's stock, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the completion of the transaction, the senior vice president directly 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 position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Allegion Stock Up 0.7%

Shares of NYSE:ALLE traded up $1.27 on Monday, hitting $173.13. 577,868 shares of the company traded hands, compared to its average volume of 965,655. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $173.25. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. The stock has a 50 day simple moving average of $160.95 and a 200-day simple moving average of $143.24. The company has a market cap of $14.86 billion, a PE ratio of 24.05, a PEG ratio of 3.69 and a beta of 1.07.

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

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 1.2%. Allegion's payout ratio is 28.33%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Barclays upgraded Allegion from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $156.00 to $163.00 in a report on Thursday, August 14th. The Goldman Sachs Group increased their price objective on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. started coverage on Allegion in a report on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price objective for the company. Finally, Mizuho raised their price target on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $166.75.

About Allegion

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.