Mediolanum International Funds Ltd Has $3.69 Million Holdings in Allegion PLC $ALLE

Key Points

• Mediolanum International Funds cut its Allegion stake by 47.8% in Q1, leaving it with 25,859 shares valued at about $3.69 million.
• Allegion reported Q1 earnings of $1.80 per share, missing the $1.88 estimate, 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 analysts currently have a Hold consensus with an average price target of $160.89.

Mediolanum International Funds Ltd lessened its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 47.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,859 shares of the scientific and technical instruments company's stock after selling 23,702 shares during the period. Mediolanum International Funds Ltd's holdings in Allegion were worth $3,695,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Partners boosted its position in shares of Allegion by 1.0% during the third quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company's stock worth $842,026,000 after buying an additional 48,199 shares during the period. State Street Corp raised its position in Allegion by 6.6% in the 3rd quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company's stock valued at $750,584,000 after buying an additional 260,973 shares during the last quarter. Geode Capital Management LLC raised its position in Allegion by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,693,831 shares of the scientific and technical instruments company's stock valued at $427,521,000 after buying an additional 13,880 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Allegion by 10.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,593,117 shares of the scientific and technical instruments company's stock valued at $412,876,000 after acquiring an additional 236,248 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Allegion by 12.7% in the 4th quarter. Invesco Ltd. now owns 1,402,682 shares of the scientific and technical instruments company's stock valued at $223,335,000 after acquiring an additional 157,724 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Allegion Trading Up 0.7%

NYSE ALLE opened at $138.22 on Tuesday. Allegion PLC has a 12 month low of $125.00 and a 12 month high of $183.11. The company has a current ratio of 1.91, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average of $133.47 and a 200-day moving average of $147.11. The company has a market cap of $11.88 billion, a PE ratio of 18.88, a PEG ratio of 2.85 and a beta of 0.85.

Allegion (NYSE:ALLE - Get Free Report) last posted 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 the consensus estimate 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%.The business's revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, equities research analysts anticipate that Allegion PLC will post 8.74 EPS for the current fiscal year.

Allegion announced that its board has initiated a stock repurchase plan on Tuesday, April 28th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ALLE shares. Weiss Ratings cut shares of Allegion from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 29th. Morgan Stanley cut their price objective 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. Longbow Research upgraded shares of Allegion from a "neutral" rating to a "buy" rating and set a $165.00 target price for the company in a report on Thursday, June 11th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $150.00 target price (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. Finally, Barclays lowered their price target on shares of Allegion from $165.00 to $161.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Allegion has an average rating of "Hold" and a consensus price target of $160.89.

Insider Activity

In other news, SVP Robert C. Martens sold 3,993 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $137.15, for a total value of $547,639.95. Following the sale, the senior vice president directly owned 8,570 shares of the company's stock, valued at approximately $1,175,375.50. This represents a 31.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.64% of the company's stock.

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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