Hsbc Holdings PLC Has $25.41 Million Stake in Allegion PLC $ALLE

Hsbc Holdings PLC lifted its position in Allegion PLC (NYSE:ALLE) by 408.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 175,098 shares of the scientific and technical instruments company’s stock after buying an additional 140,629 shares during the quarter. Hsbc Holdings PLC’s holdings in Allegion were worth $25,409,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ALLE. Oregon Public Employees Retirement Fund raised its position in Allegion by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,817 shares of the scientific and technical instruments company’s stock valued at $1,563,000 after acquiring an additional 59 shares in the last quarter. Diversify Advisory Services LLC grew its position in Allegion by 2.7% in the third quarter. Diversify Advisory Services LLC now owns 2,308 shares of the scientific and technical instruments company’s stock worth $380,000 after acquiring an additional 60 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of Allegion by 4.1% during the 4th quarter. D.A. Davidson & CO. now owns 1,612 shares of the scientific and technical instruments company’s stock worth $257,000 after purchasing an additional 63 shares during the last quarter. Banque de Luxembourg S.A. increased its stake in shares of Allegion by 0.3% during the 4th quarter. Banque de Luxembourg S.A. now owns 22,294 shares of the scientific and technical instruments company’s stock worth $3,550,000 after purchasing an additional 65 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings 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 valued at $34,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Evercore upgraded shares of Allegion to a “strong-buy” rating in a report on Monday, April 13th. Bank of America cut their target price on Allegion from $185.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Robert W. Baird set a $165.00 price target on Allegion in a research report on Wednesday, April 29th. Morgan Stanley decreased their price target on Allegion from $165.00 to $142.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. Finally, Longbow Research raised 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. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $160.89.

Allegion Price Performance

Shares of NYSE:ALLE opened at $137.32 on Wednesday. The business has a 50 day moving average price of $133.59 and a 200 day moving average price of $146.96. Allegion PLC has a twelve month low of $125.00 and a twelve month high of $183.11. The company has a market cap of $11.80 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 2.87 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 issued its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.08). Allegion had a return on equity of 35.41% and a net margin of 15.24%.The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $1.86 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Research analysts predict that Allegion PLC will post 8.74 earnings per share for the current year.

Allegion announced that its Board of Directors has authorized a stock buyback program on Tuesday, April 28th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, SVP Robert C. Martens sold 3,993 shares of the firm’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 sale, the senior vice president owned 8,570 shares in the company, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.64% of the company’s stock.

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.