Hsbc Holdings PLC Boosts Holdings in Allegion PLC $ALLE

Hsbc Holdings PLC lifted its position in shares of Allegion PLC (NYSE:ALLE) by 408.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,098 shares of the scientific and technical instruments company’s stock after purchasing an additional 140,629 shares during the period. Hsbc Holdings PLC owned about 0.20% of Allegion worth $25,409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Boston Partners increased its stake in Allegion by 1.0% during the 3rd quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company’s stock worth $842,026,000 after buying an additional 48,199 shares during the period. State Street Corp lifted its holdings in Allegion by 6.6% in the 3rd quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock worth $750,584,000 after buying an additional 260,973 shares in the last quarter. Geode Capital Management LLC boosted its position in Allegion by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,693,831 shares of the scientific and technical instruments company’s stock valued at $427,521,000 after buying an additional 13,880 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Allegion by 10.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,593,117 shares of the scientific and technical instruments company’s stock valued at $412,876,000 after buying an additional 236,248 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Allegion by 12.7% during the fourth quarter. Invesco Ltd. now owns 1,402,682 shares of the scientific and technical instruments company’s stock valued at $223,335,000 after acquiring an additional 157,724 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Price Performance

NYSE ALLE opened at $137.32 on Wednesday. Allegion PLC has a 1 year low of $125.00 and a 1 year high of $183.11. The stock’s 50-day moving average price is $133.59 and its two-hundred day moving average price is $146.96. 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 company has a market cap of $11.80 billion, a PE ratio of 18.76, a PEG ratio of 2.87 and a beta of 0.85.

Allegion (NYSE:ALLE) last posted its quarterly earnings data 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 during 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 prior year, the business posted $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, analysts predict that Allegion PLC will post 8.74 EPS for the current year.

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

Insider Activity

In related news, SVP Robert C. Martens sold 3,993 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $137.15, for a total transaction of $547,639.95. Following the completion of the sale, the senior vice president directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.64% of the stock is owned by company insiders.

Analyst Ratings Changes

ALLE has been the subject of a number of research analyst reports. Barclays dropped their price target on shares of Allegion from $165.00 to $161.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Evercore upgraded shares of Allegion to a “strong-buy” rating in a research note on Monday, April 13th. Robert W. Baird set a $165.00 price objective on shares of Allegion in a report 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 for the company in a research report on Thursday, June 11th. Finally, Bank of America cut their target price on shares of 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $160.89.

Allegion Company 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.