Two Sigma Advisers LP Trims Holdings in Allegion plc (NYSE:ALLE)

Two Sigma Advisers LP decreased its holdings in shares of Allegion plc (NYSE:ALLE) by 28.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,100 shares of the scientific and technical instruments company’s stock after selling 63,900 shares during the period. Two Sigma Advisers LP’s holdings in Allegion were worth $20,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ALLE. Tidal Investments LLC increased its stake in shares of Allegion by 187.1% during the fourth quarter. Tidal Investments LLC now owns 17,854 shares of the scientific and technical instruments company’s stock valued at $2,333,000 after buying an additional 11,636 shares during the period. True Wealth Design LLC boosted its holdings in Allegion by 226.3% in the fourth quarter. True Wealth Design LLC now owns 509 shares of the scientific and technical instruments company’s stock valued at $67,000 after acquiring an additional 353 shares in the last quarter. State of Wyoming increased its position in Allegion by 1,041.7% during the 4th quarter. State of Wyoming now owns 5,583 shares of the scientific and technical instruments company’s stock valued at $730,000 after purchasing an additional 5,094 shares during the period. Sherbrooke Park Advisers LLC bought a new position in Allegion in the 4th quarter worth $438,000. Finally, Royal Bank of Canada raised its holdings in Allegion by 1.2% in the 4th quarter. Royal Bank of Canada now owns 221,685 shares of the scientific and technical instruments company’s stock worth $28,969,000 after purchasing an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Activity at Allegion

In other news, SVP David S. Ilardi sold 789 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the transaction, the senior vice president now owns 9,625 shares in the company, valued at approximately $1,205,820. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the sale, the senior vice president now owns 10,273 shares in the company, valued at approximately $1,302,000.02. The trade was a 16.51% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ALLE shares. Robert W. Baird lifted their target price on shares of Allegion from $144.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Wells Fargo & Company lowered their price objective 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. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Barclays increased their target price on Allegion from $126.00 to $128.00 and gave the stock an “underweight” rating in a research report on Friday, April 25th. Finally, Morgan Stanley raised their target price on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $140.40.

Allegion Stock Down 0.6%

Shares of Allegion stock opened at $143.58 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. The company has a 50-day moving average of $131.60 and a 200 day moving average of $133.01. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 3.97 and a beta of 1.02. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.18. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The business had revenue of $941.90 million for the quarter, compared to analysts’ expectations of $918.53 million. During the same quarter in the prior year, the company earned $1.55 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 1.42%. Allegion’s payout ratio is currently 28.65%.

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.