Renaissance Technologies LLC Buys 218,000 Shares of Allegion plc (NYSE:ALLE)

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new stake in shares of Allegion during the fourth quarter valued at $28,000. Atala Financial Inc acquired a new stake in Allegion during the 4th quarter worth about $35,000. Private Trust Co. NA lifted its stake in Allegion by 56.1% during the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock valued at $42,000 after buying an additional 115 shares in the last quarter. Tortoise Investment Management LLC lifted its stake in Allegion by 78.0% during the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company's stock valued at $51,000 after buying an additional 170 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Allegion by 33.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock worth $53,000 after buying an additional 101 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Insider Transactions at Allegion

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

Analyst Ratings Changes

Several brokerages recently commented on ALLE. Morgan Stanley upped their price target on shares of Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a research 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 report on Wednesday, March 26th. Robert W. Baird lowered their target price on Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company decreased their price target on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating and five have issued 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 $138.80.

Allegion Stock Up 1.6 %

Allegion stock traded up $1.95 during mid-day trading on Thursday, hitting $127.08. 239,304 shares of the company's stock were exchanged, compared to its average volume of 812,183. The stock has a market cap of $10.97 billion, a P/E ratio of 18.61, a P/E/G ratio of 3.97 and a beta of 1.01. The stock has a 50 day moving average of $127.55 and a two-hundred day moving average of $134.56. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.11. The business had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. As a group, analysts anticipate that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, June 13th. Allegion's dividend payout ratio is currently 29.91%.

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.