Allegion plc (NYSE:ALLE) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in shares of Allegion plc (NYSE:ALLE) by 438.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,700 shares of the scientific and technical instruments company’s stock after purchasing an additional 218,000 shares during the period. Renaissance Technologies LLC owned 0.31% of Allegion worth $34,983,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ALLE. Norges Bank purchased a new position in Allegion in the fourth quarter valued at approximately $108,058,000. Lord Abbett & CO. LLC boosted its holdings in shares of Allegion by 96.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after buying an additional 823,874 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Allegion in the 4th quarter valued at $65,175,000. Boston Partners raised its stake in Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock worth $616,503,000 after acquiring an additional 488,390 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Allegion by 312.4% in the fourth quarter. Allianz Asset Management GmbH now owns 574,012 shares of the scientific and technical instruments company’s stock valued at $75,012,000 after acquiring an additional 434,820 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ALLE. Wells Fargo & Company dropped their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Barclays dropped their price target on Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 26th. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Morgan Stanley raised their target price on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird decreased their price target on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $137.67.

Allegion Trading Up 2.4 %

Shares of Allegion stock opened at $125.02 on Friday. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The company’s 50-day simple moving average is $127.72 and its 200-day simple moving average is $134.87. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. As a group, equities research analysts anticipate that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 1.63%. Allegion’s payout ratio is currently 29.91%.

Insider Transactions at Allegion

In other Allegion news, Director Gregg C. Sengstack bought 8,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was purchased at an average cost of $125.24 per share, for a total transaction of $1,001,920.00. Following the acquisition, the director now owns 8,000 shares of the company’s stock, valued at $1,001,920. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the sale, the senior vice president now directly owns 10,273 shares in the company, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,224 shares of company stock valued at $406,636 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Allegion Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.