Rit Capital Partners PLC Purchases New Position in Allegion PLC $ALLE

Rit Capital Partners PLC acquired a new position in shares of Allegion PLC (NYSE:ALLE) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 150,000 shares of the scientific and technical instruments company’s stock, valued at approximately $21,786,000. Allegion makes up approximately 5.8% of Rit Capital Partners PLC’s investment portfolio, making the stock its 8th biggest holding. Rit Capital Partners PLC owned approximately 0.17% of Allegion at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new position in Allegion in the 4th quarter worth about $2,833,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Allegion by 5.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 181,501 shares of the scientific and technical instruments company’s stock valued at $29,205,000 after purchasing an additional 9,598 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Allegion by 793.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 45,002 shares of the scientific and technical instruments company’s stock worth $7,165,000 after purchasing an additional 39,964 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Allegion by 2,028.5% during the fourth quarter. SG Americas Securities LLC now owns 193,651 shares of the scientific and technical instruments company’s stock worth $30,833,000 after purchasing an additional 184,553 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Allegion by 50.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,115 shares of the scientific and technical instruments company’s stock valued at $3,683,000 after buying an additional 7,776 shares during the period. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

ALLE stock opened at $137.32 on Wednesday. The firm has a market cap of $11.80 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.85. The company has a current ratio of 1.91, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The stock has a 50-day moving average price of $133.59 and a 200-day moving average price of $146.96. Allegion PLC has a 1-year low of $125.00 and a 1-year high of $183.11.

Allegion (NYSE:ALLE) last announced its 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). The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Allegion had a net margin of 15.24% and a return on equity of 35.41%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, equities research analysts expect that Allegion PLC will post 8.74 earnings per share for the current year.

Allegion declared that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings lowered shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 29th. Bank of America decreased their price target on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $150.00 price target (down from $170.00) on shares of Allegion in a research note on Friday, May 15th. Longbow Research upgraded shares of Allegion from a “neutral” rating to a “buy” rating and set a $165.00 price target on the stock in a report on Thursday, June 11th. Finally, Robert W. Baird set a $165.00 price objective on shares of Allegion in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $160.89.

Insider Activity

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 stock was sold at an average price of $137.15, for a total transaction of $547,639.95. Following the transaction, the senior vice president directly owned 8,570 shares in the company, valued at approximately $1,175,375.50. This represents a 31.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.