Illinois Municipal Retirement Fund Boosts Stake in Allegion PLC $ALLE

Illinois Municipal Retirement Fund grew its position in shares of Allegion PLC (NYSE:ALLE) by 33.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,423 shares of the scientific and technical instruments company’s stock after acquiring an additional 11,028 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Allegion were worth $6,454,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. lifted its stake in shares of Allegion by 255.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 115 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Allegion during the 2nd quarter worth approximately $33,000. Hantz Financial Services Inc. increased its position in Allegion by 45.9% during the 4th quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 68 shares in the last quarter. Bard Associates Inc. acquired a new stake in Allegion during the 4th quarter worth approximately $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Allegion in the third quarter valued at approximately $36,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Robert W. Baird set a $165.00 price objective on shares of Allegion in a research note on Wednesday, April 29th. Longbow Research raised shares of Allegion from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Thursday, June 11th. Weiss Ratings lowered shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 29th. 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 report on Wednesday, April 1st. Finally, Barclays lowered their price target on Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $160.89.

Insider Buying and Selling

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the business’s stock in a transaction 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 transaction, the senior vice president owned 8,570 shares in the company, valued at $1,175,375.50. The trade was a 31.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.64% of the stock is owned by corporate insiders.

Allegion Trading Down 1.8%

ALLE opened at $137.01 on Friday. The firm has a market capitalization of $11.77 billion, a P/E ratio of 18.72, a P/E/G ratio of 2.90 and a beta of 0.85. The firm’s 50 day moving average is $133.36 and its 200-day moving average is $147.37. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $183.11. 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 posted its 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). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period 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. Analysts expect that Allegion PLC will post 8.74 EPS for the current fiscal year.

Allegion declared that its board has approved a stock buyback program on Tuesday, April 28th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.