Mubadala Investment Co PJSC Invests $3.92 Million in Allegion PLC $ALLE

Key Points

• Mubadala Investment Co PJSC has acquired a new position in Allegion PLC, buying 30,045 shares valued at approximately $3.92 million, making Allegion its 18th largest holding.
• Allegion reported a net margin of 16.15% and a return on equity of 42.62% for the last quarter, with earnings per share exceeding analyst estimates.
• Several analysts have raised their price targets for Allegion, with Robert W. Baird setting a new target at $175.00 and Barclays upgrading their rating, reflecting positive sentiment around the stock.

Mubadala Investment Co PJSC bought a new position in Allegion PLC (NYSE:ALLE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,045 shares of the scientific and technical instruments company's stock, valued at approximately $3,920,000. Allegion makes up 0.0% of Mubadala Investment Co PJSC's holdings, making the stock its 18th largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Avantax Advisory Services Inc. raised its position in Allegion by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company's stock valued at $545,000 after purchasing an additional 73 shares during the period. Whittier Trust Co. raised its position in Allegion by 16.6% during the first quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company's stock valued at $75,000 after purchasing an additional 82 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Allegion by 2.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company's stock worth $469,000 after buying an additional 83 shares during the period. DMC Group LLC raised its holdings in shares of Allegion by 2.2% in the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company's stock worth $516,000 after buying an additional 85 shares during the period. Finally, Ethic Inc. raised its holdings in shares of Allegion by 1.2% in the first quarter. Ethic Inc. now owns 7,514 shares of the scientific and technical instruments company's stock worth $984,000 after buying an additional 87 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Trading Down 0.2%

NYSE:ALLE traded down $0.39 during midday trading on Wednesday, hitting $167.60. The stock had a trading volume of 635,942 shares, compared to its average volume of 972,014. Allegion PLC has a one year low of $116.57 and a one year high of $172.95. The company has a market capitalization of $14.39 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 3.65 and a beta of 1.07. The stock has a 50-day moving average of $159.35 and a 200 day moving average of $142.27. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $999.10 million. During the same quarter in the prior year, the firm earned $1.96 earnings per share. Allegion's revenue was up 5.8% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, sell-side analysts forecast that Allegion PLC will post 7.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALLE. JPMorgan Chase & Co. began coverage on Allegion in a report on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price target on the stock. Zacks Research downgraded Allegion from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Robert W. Baird increased their price target on Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Wells Fargo & Company increased their price target on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Finally, 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 research note on Tuesday, July 8th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $166.75.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total transaction of $634,777.08. Following the sale, the senior vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $1,781,055.60. Following the sale, the senior vice president directly owned 30,023 shares in the company, valued at $4,946,589.48. This trade represents a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Allegion Profile

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.