Rit Capital Partners PLC Takes $21.79 Million Position in Allegion PLC $ALLE

Rit Capital Partners PLC bought a new stake in Allegion PLC (NYSE:ALLE) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 150,000 shares of the scientific and technical instruments company’s stock, valued at approximately $21,786,000. Allegion makes up approximately 5.8% of Rit Capital Partners PLC’s holdings, making the stock its 8th largest holding.

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

Allegion Stock Down 0.6%

Shares of NYSE:ALLE opened at $137.32 on Wednesday. The business’s 50 day moving average is $133.59 and its 200 day moving average is $146.96. Allegion PLC has a 12-month low of $125.00 and a 12-month high of $183.11. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 2.87 and a beta of 0.85. The company has a quick ratio of 1.19, a current ratio of 1.91 and a debt-to-equity ratio of 0.97.

Allegion (NYSE:ALLE) last released 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 company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the company posted $1.86 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, sell-side analysts forecast that Allegion PLC will post 8.74 earnings per share for the current fiscal year.

Allegion announced that its Board of Directors has initiated a share buyback program on Tuesday, April 28th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Longbow Research raised shares of Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a research note on Thursday, June 11th. Weiss Ratings cut shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 29th. Bank of America decreased their target price 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, Barclays lowered their target price on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Allegion currently has an average rating of “Hold” and a consensus target price of $160.89.

Insider Activity at Allegion

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

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.