Polar Asset Management Partners Inc. Acquires New Position in Allegion plc (NYSE:ALLE)

Polar Asset Management Partners Inc. acquired a new stake in Allegion plc (NYSE:ALLE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,400 shares of the scientific and technical instruments company’s stock, valued at approximately $3,993,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Millburn Ridgefield Corp acquired a new stake in shares of Allegion in the third quarter valued at about $139,000. Investment Management Corp of Ontario raised its position in Allegion by 15.0% during the third quarter. Investment Management Corp of Ontario now owns 6,899 shares of the scientific and technical instruments company’s stock worth $1,005,000 after acquiring an additional 900 shares during the last quarter. HighTower Advisors LLC raised its position in Allegion by 0.3% during the third quarter. HighTower Advisors LLC now owns 237,860 shares of the scientific and technical instruments company’s stock worth $34,660,000 after acquiring an additional 596 shares during the last quarter. Benjamin Edwards Inc. raised its position in Allegion by 323.5% during the third quarter. Benjamin Edwards Inc. now owns 1,512 shares of the scientific and technical instruments company’s stock worth $220,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in Allegion by 100.7% during the third quarter. Verition Fund Management LLC now owns 11,229 shares of the scientific and technical instruments company’s stock worth $1,637,000 after acquiring an additional 5,634 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Performance

NYSE:ALLE opened at $141.06 on Thursday. The firm has a 50 day simple moving average of $143.72 and a 200-day simple moving average of $133.17. 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 firm has a market cap of $12.26 billion, a PE ratio of 21.67, a P/E/G ratio of 3.35 and a beta of 1.10. Allegion plc has a 1-year low of $104.25 and a 1-year high of $156.10.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating 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 business had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. During the same quarter in the previous year, the business posted $1.94 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts expect that Allegion plc will post 7.41 EPS for the current year.

Insider Activity at Allegion

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays lifted their target price on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. 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. Wells Fargo & Company lifted their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Robert W. Baird boosted their price objective on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Allegion presently has a consensus rating of “Hold” and a consensus target price of $144.60.

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.