Polar Asset Management Partners Inc. Buys Shares of 27,400 Allegion plc (NYSE:ALLE)

Polar Asset Management Partners Inc. acquired a new position in Allegion plc (NYSE:ALLE - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 27,400 shares of the scientific and technical instruments company's stock, valued at approximately $3,993,000.

A number of other institutional investors also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Allegion by 397.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company's stock worth $88,450,000 after buying an additional 484,995 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Allegion during the 3rd quarter valued at $666,840,000. Millennium Management LLC increased its holdings in shares of Allegion by 483.1% in the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company's stock worth $60,914,000 after purchasing an additional 427,146 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Allegion by 13.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company's stock valued at $277,581,000 after purchasing an additional 232,395 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Allegion in the 2nd quarter worth about $27,056,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analyst Ratings Changes

ALLE has been the subject of a number of research analyst reports. Mizuho lifted their target price on shares of Allegion from $135.00 to $150.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Robert W. Baird raised their price objective on shares of Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. Wells Fargo & Company lifted their target price on Allegion from $137.00 to $152.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Finally, Barclays upped their price target on Allegion from $135.00 to $137.00 and gave the stock an "underweight" rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $144.60.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 8,035 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the sale, the senior vice president now directly owns 7,104 shares of the company's stock, valued at $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John H. Stone bought 7,500 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Allegion Price Performance

Shares of NYSE ALLE traded down $0.75 during midday trading on Thursday, reaching $140.32. 1,293,834 shares of the stock traded hands, compared to its average volume of 728,856. The stock has a market capitalization of $12.20 billion, a PE ratio of 21.55, a P/E/G ratio of 3.35 and a beta of 1.10. The company's 50 day moving average is $143.65 and its 200 day moving average is $133.22. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. Allegion plc has a one year low of $104.25 and a one year high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The firm had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. During the same period in the previous year, the firm posted $1.94 EPS. The business's quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.37%. Allegion's payout ratio is 29.49%.

About Allegion

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.