California Public Employees Retirement System Has $24.22 Million Stock Position in Allegion PLC $ALLE

California Public Employees Retirement System lifted its stake in shares of Allegion PLC (NYSE:ALLE) by 4.9% during the first quarter, Holdings Channel.com reports. The firm owned 166,720 shares of the scientific and technical instruments company’s stock after acquiring an additional 7,840 shares during the period. California Public Employees Retirement System’s holdings in Allegion were worth $24,223,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ALLE. Pinnacle Bancorp Inc. raised its stake 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 during the period. CYBER HORNET ETFs LLC acquired a new stake in Allegion in the second quarter valued at approximately $33,000. Hantz Financial Services Inc. increased its holdings in shares of Allegion by 45.9% during the fourth quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. Bard Associates Inc. acquired a new position in shares of Allegion during the fourth quarter worth approximately $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Allegion during the third quarter worth approximately $36,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Stock Up 2.1%

ALLE stock opened at $140.19 on Thursday. The stock has a 50-day simple moving average of $133.79 and a two-hundred day simple moving average of $146.82. Allegion PLC has a twelve month low of $125.00 and a twelve month high of $183.11. The firm has a market capitalization of $12.05 billion, a PE ratio of 19.15, 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 announced its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (EPS) 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 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, equities analysts predict that Allegion PLC will post 8.74 EPS for the current fiscal year.

Allegion declared that its board has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

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 value of $547,639.95. Following the sale, the senior vice president directly owned 8,570 shares in the company, valued at $1,175,375.50. This represents a 31.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ALLE shares. Robert W. Baird set a $165.00 target price on shares of Allegion in a research report on Wednesday, April 29th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $150.00 target price (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. Evercore raised Allegion to a “strong-buy” rating in a research report on Monday, April 13th. Morgan Stanley decreased their price objective 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, Bank of America lowered their price objective on Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. One 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, the company presently has a consensus rating of “Hold” and a consensus target price of $160.89.

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.