Swiss National Bank Has $36.67 Million Position in Allegion PLC $ALLE

Key Points

• Swiss National Bank increased its stake in Allegion by 7.6% in Q1, ending with 252,400 shares worth about $36.67 million. Institutional ownership remains very high at 92.21%.
• Wall Street remains cautious on ALLE, with a consensus rating of “Hold” and an average price target of $160.89. Several firms trimmed targets recently, though Evercore upgraded the stock to “strong-buy.”
• Allegion’s latest results were mixed: quarterly EPS of $1.80 missed estimates, while revenue matched expectations at $1.03 billion and rose 9.7% year over year. The company also authorized a $500 million share repurchase program.

Swiss National Bank lifted its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 252,400 shares of the scientific and technical instruments company's stock after acquiring an additional 17,900 shares during the period. Swiss National Bank owned approximately 0.29% of Allegion worth $36,671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new position in shares of Allegion during the 4th quarter worth $2,833,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Allegion by 5.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 181,501 shares of the scientific and technical instruments company's stock worth $29,205,000 after buying an additional 9,598 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Allegion by 793.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 45,002 shares of the scientific and technical instruments company's stock worth $7,165,000 after buying an additional 39,964 shares during the last quarter. SG Americas Securities LLC boosted its stake in Allegion by 2,028.5% in the fourth quarter. SG Americas Securities LLC now owns 193,651 shares of the scientific and technical instruments company's stock valued at $30,833,000 after buying an additional 184,553 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Allegion by 50.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,115 shares of the scientific and technical instruments company's stock valued at $3,683,000 after buying an additional 7,776 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALLE. JPMorgan Chase & Co. reissued a "neutral" rating and set a $150.00 target price (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. Robert W. Baird set a $165.00 price target on shares of Allegion in a research note on Wednesday, April 29th. Wells Fargo & Company decreased their price target on shares of Allegion from $175.00 to $155.00 and set an "equal weight" rating on the stock in a report 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 report on Monday, April 20th. Finally, Evercore raised shares of Allegion to a "strong-buy" rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Allegion currently has a consensus rating of "Hold" and a consensus target price of $160.89.

Insiders Place Their Bets

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the business'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 directly owned 8,570 shares of the company's stock, valued at $1,175,375.50. The trade was a 31.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.64% of the stock is owned by insiders.

Allegion Price Performance

Shares of ALLE opened at $140.19 on Thursday. 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 stock has a market cap of $12.05 billion, a PE ratio of 19.15, a PEG ratio of 2.85 and a beta of 0.85. Allegion PLC has a 12-month low of $125.00 and a 12-month high of $183.11. The business has a 50-day simple moving average of $133.79 and a two-hundred day simple moving average of $146.82.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 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 firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $1.86 earnings per share. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Analysts anticipate that Allegion PLC will post 8.74 earnings per share for the current fiscal year.

Allegion announced that its Board of Directors has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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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