KBC Group NV Increases Stake in Allegion PLC $ALLE

Key Points

• KBC Group NV increased its Allegion stake by 41.1% in the first quarter, ending with 230,745 shares valued at about $33.5 million.
• Allegion reported Q1 earnings of $1.80 per share, missing analyst estimates of $1.88, while revenue came in at $1.03 billion and rose 9.7% year over year.
• The company’s board approved a $500 million share buyback, and analysts currently have a Hold consensus with an average price target of $160.89.

KBC Group NV lifted its stake in Allegion PLC (NYSE:ALLE - Free Report) by 41.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 230,745 shares of the scientific and technical instruments company's stock after purchasing an additional 67,196 shares during the quarter. KBC Group NV owned about 0.27% of Allegion worth $33,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pinnacle Bancorp Inc. raised its position in Allegion by 255.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company's stock worth $25,000 after buying an additional 115 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in Allegion in the 2nd quarter valued at about $33,000. Hantz Financial Services Inc. raised its holdings in Allegion by 45.9% in the 4th quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company's stock valued at $34,000 after acquiring an additional 68 shares during the last quarter. Bard Associates Inc. purchased a new position in Allegion during the fourth quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Allegion during the 3rd quarter worth about $36,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Allegion

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the company's stock in a transaction 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 transaction, the senior vice president owned 8,570 shares in the company, valued at approximately $1,175,375.50. This represents a 31.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Bank of America lowered their price target on Allegion from $185.00 to $157.00 and set a "neutral" rating for the company in a research report on Monday, April 20th. Evercore raised Allegion to a "strong-buy" rating in a research report on Monday, April 13th. Robert W. Baird set a $165.00 target price on Allegion in a report on Wednesday, April 29th. Morgan Stanley lowered their price objective on Allegion from $165.00 to $142.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 3rd. Finally, Longbow Research raised Allegion from a "neutral" rating to a "buy" rating and set a $165.00 price target on the stock in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $160.89.

Allegion Stock Up 0.7%

Shares of ALLE opened at $138.22 on Tuesday. Allegion PLC has a one year low of $125.00 and a one year high of $183.11. The company has a market capitalization of $11.88 billion, a P/E ratio of 18.88, a PEG ratio of 2.85 and a beta of 0.85. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.19. The business's 50 day simple moving average is $133.47 and its 200-day simple moving average is $147.11.

Allegion (NYSE:ALLE - Get Free Report) last posted its 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 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 analyst estimates of $1.03 billion. During the same period in the previous year, the firm posted $1.86 earnings per share. The firm's revenue was up 9.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, sell-side analysts predict that Allegion PLC will post 8.74 EPS for the current fiscal year.

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