AXQ Capital LP Purchases Shares of 5,639 Allegion PLC $ALLE

AXQ Capital LP acquired a new position in shares of Allegion PLC (NYSE:ALLE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,639 shares of the scientific and technical instruments company’s stock, valued at approximately $898,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westside Investment Management Inc. increased its holdings in Allegion by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Allegion by 120.9% in the third quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Pinnacle Bancorp Inc. lifted its position in Allegion by 255.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 115 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in Allegion during the 3rd quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Allegion during the 3rd quarter worth about $36,000. 92.21% of the stock is owned by institutional investors.

Allegion Stock Down 0.2%

Shares of NYSE ALLE opened at $129.89 on Wednesday. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $183.11. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91. The stock has a market cap of $11.16 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.70 and a beta of 0.86. The firm has a 50 day moving average price of $138.62 and a 200 day moving average price of $153.76.

Allegion (NYSE:ALLE) last announced 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). Allegion had a return on equity of 35.41% and a net margin of 15.24%.The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business earned $1.86 earnings per share. The company’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 expect that Allegion PLC will post 8.74 EPS for the current year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.7%. Allegion’s payout ratio is presently 30.05%.

Allegion announced that its board has approved a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday. Bank of America lowered their price target on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Wells Fargo & Company dropped their price objective on shares of Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Robert W. Baird set a $165.00 price objective on Allegion in a report on Wednesday, April 29th. Finally, Evercore upgraded Allegion to a “strong-buy” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $161.50.

Insider Activity at Allegion

In related news, Director Sue Main acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average cost of $149.61 per share, with a total value of $299,220.00. Following the transaction, the director owned 2,000 shares of the company’s stock, valued at $299,220. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert C. Martens sold 3,993 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $137.15, for a total value of $547,639.95. Following the transaction, the senior vice president owned 8,570 shares of the company’s stock, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.64% of the stock is 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.