SummitTX Capital L.P. Has $1.03 Million Position in Allegion PLC $ALLE

SummitTX Capital L.P. decreased its holdings in Allegion PLC (NYSE:ALLE) by 31.3% during the first quarter, Holdings Channel.com reports. The firm owned 7,117 shares of the scientific and technical instruments company’s stock after selling 3,236 shares during the period. SummitTX Capital L.P.’s holdings in Allegion were worth $1,034,000 as of its most recent SEC filing.

A number of other institutional investors have also 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 valued at $25,000 after purchasing an additional 115 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in Allegion during the second quarter worth about $33,000. Hantz Financial Services Inc. lifted its position in shares of 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 buying an additional 68 shares during the period. Bard Associates Inc. acquired a new stake in shares of Allegion in the 4th quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Allegion in the third quarter valued at about $36,000. 92.21% of the stock is currently owned by institutional investors.

Allegion Stock Down 1.0%

Shares of ALLE opened at $156.82 on Friday. The firm has a market cap of $13.34 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 3.22 and a beta of 0.85. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.93. Allegion PLC has a 52 week low of $125.00 and a 52 week high of $183.11. The firm’s 50-day simple moving average is $137.21 and its 200 day simple moving average is $146.62.

Allegion (NYSE:ALLE) last posted its quarterly earnings data 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. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.12 billion. Allegion had a net margin of 15.36% and a return on equity of 35.41%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.04 EPS. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. On average, analysts forecast that Allegion PLC will post 8.92 earnings per share for the current year.

Allegion announced that its Board of Directors has approved a share buyback plan on Tuesday, April 28th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the scientific and technical instruments company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Allegion

In other Allegion news, CAO Nickolas A. Musial sold 687 shares of Allegion stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $155.00, for a total transaction of $106,485.00. Following the transaction, the chief accounting officer directly owned 6,798 shares of the company’s stock, valued at approximately $1,053,690. The trade was a 9.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael J. Wagnes sold 3,184 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $150.98, for a total transaction of $480,720.32. Following the completion of the sale, the chief financial officer directly owned 31,299 shares in the company, valued at approximately $4,725,523.02. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,281 shares of company stock valued at $2,143,983 in the last quarter. 0.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALLE. Longbow Research raised shares of Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Thursday, June 11th. Robert W. Baird set a $170.00 price objective on Allegion in a report on Friday, July 24th. Barclays cut their target price on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Evercore upgraded Allegion to a “strong-buy” rating in a report on Monday, April 13th. Finally, Bank of America reduced their target price on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. 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.com, Allegion presently has an average rating of “Hold” and an average 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.