Renaissance Technologies LLC Buys New Shares in Allegion plc (NYSE:ALLE)

Renaissance Technologies LLC bought a new stake in Allegion plc (NYSE:ALLE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 229,000 shares of the scientific and technical instruments company’s stock, valued at approximately $27,056,000. Renaissance Technologies LLC owned about 0.26% of Allegion as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of ALLE. Crewe Advisors LLC increased its position in shares of Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 149 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Allegion by 19.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 3,823 shares during the last quarter. Gradient Investments LLC acquired a new position in Allegion during the second quarter worth approximately $38,000. Blue Trust Inc. increased its position in Allegion by 54.0% during the second quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after buying an additional 121 shares during the last quarter. Finally, Covestor Ltd increased its position in Allegion by 255.7% during the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Trading Up 0.2 %

Shares of NYSE:ALLE opened at $143.75 on Friday. Allegion plc has a 12-month low of $95.94 and a 12-month high of $146.41. The stock has a market cap of $12.57 billion, a PE ratio of 23.45, a P/E/G ratio of 4.21 and a beta of 1.12. The business has a 50 day moving average of $133.55 and a 200-day moving average of $127.55. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $965.60 million during the quarter, compared to analysts’ expectations of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.76 earnings per share. As a group, equities research analysts forecast that Allegion plc will post 7.26 earnings per share for the current year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, September 20th. Allegion’s dividend payout ratio (DPR) is currently 31.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALLE. Barclays boosted their price target on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research report on Thursday, July 25th. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Finally, Wells Fargo & Company boosted their price target on Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. One investment 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $125.40.

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.