Hawk Ridge Capital Management LP Has $116.64 Million Stock Position in Allegion PLC $ALLE

Hawk Ridge Capital Management LP increased its position in shares of Allegion PLC (NYSE:ALLE) by 32.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 802,807 shares of the scientific and technical instruments company’s stock after purchasing an additional 198,800 shares during the period. Allegion accounts for 4.2% of Hawk Ridge Capital Management LP’s investment portfolio, making the stock its 8th largest holding. Hawk Ridge Capital Management LP’s holdings in Allegion were worth $116,640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC bought a new stake in shares of Allegion in the 4th quarter valued at about $2,833,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in 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. grew its holdings in 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. Thrivent Financial for Lutherans increased its position in Allegion by 50.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 23,115 shares of the scientific and technical instruments company’s stock worth $3,683,000 after buying an additional 7,776 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its position in Allegion by 191.8% during the fourth 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. 92.21% of the stock is owned by institutional investors.

Insider Transactions at Allegion

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by corporate insiders.

Allegion Stock Up 3.2%

ALLE stock opened at $158.24 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.93 and a quick ratio of 1.23. The stock has a market capitalization of $13.60 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 3.12 and a beta of 0.85. The business’s fifty day moving average price is $135.40 and its two-hundred day moving average price is $146.69. Allegion PLC has a fifty-two week low of $125.00 and a fifty-two week high of $183.11.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 35.41%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the business posted $2.04 earnings per share. Allegion’s quarterly revenue was up 12.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. On average, equities analysts anticipate that Allegion PLC will post 8.92 earnings per share for the current year.

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

Wall Street Analyst Weigh In

ALLE has been the subject of a number of recent analyst reports. Evercore raised Allegion to a “strong-buy” rating in a research report on Monday, April 13th. Longbow Research raised Allegion from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Thursday, June 11th. Weiss Ratings cut Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Morgan Stanley cut their price target on Allegion from $165.00 to $142.00 and set an “equal weight” rating for the company in a report on Wednesday, June 3rd. Finally, Barclays reduced their price objective on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $164.75.

About Allegion

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.