Mediolanum International Funds Ltd Sells 23,702 Shares of Allegion PLC $ALLE

Mediolanum International Funds Ltd decreased its holdings in shares of Allegion PLC (NYSE:ALLE) by 47.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,859 shares of the scientific and technical instruments company’s stock after selling 23,702 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Allegion were worth $3,695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Allegion in the fourth quarter valued at about $131,523,000. Panagora Asset Management Inc. lifted its stake in shares of Allegion by 191.8% during the 4th quarter. Panagora Asset Management Inc. now owns 624,297 shares of the scientific and technical instruments company’s stock worth $99,401,000 after buying an additional 410,346 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Allegion by 2,013.5% during the 1st quarter. IFM Investors Pty Ltd now owns 355,233 shares of the scientific and technical instruments company’s stock worth $51,612,000 after buying an additional 338,425 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Allegion by 163.9% during the 4th quarter. Franklin Resources Inc. now owns 529,243 shares of the scientific and technical instruments company’s stock worth $84,266,000 after buying an additional 328,701 shares during the period. Finally, Millennium Management LLC grew its stake in Allegion by 817.1% in the 3rd quarter. Millennium Management LLC now owns 308,430 shares of the scientific and technical instruments company’s stock valued at $54,700,000 after buying an additional 274,800 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Allegion Stock Performance

Shares of 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’s 50 day moving average price is $133.47 and its two-hundred day moving average price is $147.11. The firm 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. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.08). The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Allegion had a net margin of 15.24% and a return on equity of 35.41%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities research analysts predict that Allegion PLC will post 8.74 earnings per share for the current year.

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

Insiders Place Their Bets

In other news, SVP Robert C. Martens sold 3,993 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $137.15, for a total transaction of $547,639.95. Following the completion of the sale, the senior vice president directly owned 8,570 shares in the company, valued at approximately $1,175,375.50. This represents a 31.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALLE has been the topic of several research analyst reports. Morgan Stanley lowered their price target on shares of Allegion from $165.00 to $142.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Barclays reduced their price objective on Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. JPMorgan Chase & Co. reiterated 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 Allegion in a report on Wednesday, April 29th. Finally, Longbow Research raised Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price target for the company in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Allegion has an average rating of “Hold” and an average target price of $160.89.

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.