Two Sigma Advisers LP Cuts Stock Position in Allegion plc (NYSE:ALLE)

Two Sigma Advisers LP cut its stake in Allegion plc (NYSE:ALLE - Free Report) by 11.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 223,000 shares of the scientific and technical instruments company's stock after selling 29,400 shares during the quarter. Two Sigma Advisers LP owned about 0.26% of Allegion worth $32,500,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Allegion by 397.8% during the third 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 in the last quarter. International Assets Investment Management LLC purchased a new position in Allegion during the third quarter worth about $666,840,000. Millennium Management LLC grew its position in Allegion by 483.1% during the second quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company's stock worth $60,914,000 after buying an additional 427,146 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in 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 worth $277,581,000 after buying an additional 232,395 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Allegion during the second quarter worth about $27,056,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 8,035 shares of the company's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the transaction, the senior vice president now directly owns 7,104 shares of the company's stock, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John H. Stone acquired 7,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. This 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 company insiders.

Analysts Set New Price Targets

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

Allegion Trading Up 0.1 %

ALLE traded up $0.17 during midday trading on Friday, reaching $140.49. 760,528 shares of the company's stock traded hands, compared to its average volume of 728,516. Allegion plc has a 52 week low of $104.25 and a 52 week high of $156.10. The firm has a fifty day moving average of $143.59 and a two-hundred day moving average of $133.41. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 3.37 and a beta of 1.10.

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 return on equity of 45.64% and a net margin of 15.36%. The firm had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. During the same quarter in the prior year, the business earned $1.94 EPS. The business's revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that Allegion plc will post 7.41 earnings per share for the current fiscal year.

Allegion Announces Dividend

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

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.