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

Renaissance Technologies LLC grew its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 438.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 approximately 0.31% of Allegion worth $34,983,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALLE. Captrust Financial Advisors raised its position in Allegion by 2.8% in the third quarter. Captrust Financial Advisors now owns 3,541 shares of the scientific and technical instruments company's stock worth $516,000 after acquiring an additional 96 shares in the last quarter. Quantinno Capital Management LP raised its position in Allegion by 48.9% during the third quarter. Quantinno Capital Management LP now owns 9,317 shares of the scientific and technical instruments company's stock valued at $1,358,000 after acquiring an additional 3,061 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of Allegion by 25.5% during the 3rd quarter. MML Investors Services LLC now owns 35,417 shares of the scientific and technical instruments company's stock valued at $5,162,000 after purchasing an additional 7,192 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Allegion by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 26,411 shares of the scientific and technical instruments company's stock worth $3,849,000 after buying an additional 2,626 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Allegion during the 3rd quarter valued at about $4,988,000. Institutional investors own 92.21% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have issued reports on ALLE shares. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Morgan Stanley lifted their price objective 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. Robert W. Baird reduced their price objective on shares of 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 reduced their target price on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Finally, Barclays lowered their price objective on shares of Allegion from $130.00 to $126.00 and set an "underweight" rating for the company in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $137.67.

Allegion Trading Up 0.5 %

Shares of NYSE ALLE traded up $0.67 during mid-day trading on Tuesday, reaching $126.96. The company had a trading volume of 753,390 shares, compared to its average volume of 813,611. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10. The business's 50-day moving average is $127.66 and its 200-day moving average is $134.68. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. 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 issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The firm had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Equities analysts expect 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 paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, June 13th. Allegion's dividend payout ratio (DPR) is presently 29.91%.

Insider Activity

In other news, CAO Nickolas A. Musial sold 403 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the sale, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. This trade represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregg C. Sengstack purchased 8,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was bought at an average cost of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the acquisition, the director now directly owns 8,000 shares of the company's stock, valued at $1,001,920. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is currently owned by 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.