Dark Forest Capital Management LP Sells 3,994 Shares of Allegion plc (NYSE:ALLE)

Dark Forest Capital Management LP trimmed its holdings in shares of Allegion plc (NYSE:ALLE) by 60.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,584 shares of the scientific and technical instruments company’s stock after selling 3,994 shares during the period. Dark Forest Capital Management LP’s holdings in Allegion were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in Allegion during the second quarter valued at approximately $27,056,000. Hawk Ridge Capital Management LP lifted its stake in shares of Allegion by 39.8% during the 4th quarter. Hawk Ridge Capital Management LP now owns 712,774 shares of the scientific and technical instruments company’s stock worth $90,301,000 after purchasing an additional 202,774 shares during the last quarter. AXA S.A. boosted its position in Allegion by 83.6% during the second quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company’s stock valued at $39,179,000 after purchasing an additional 151,013 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Allegion in the fourth quarter valued at about $16,902,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in Allegion by 7.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock worth $197,575,000 after purchasing an additional 120,870 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of ALLE stock opened at $143.77 on Monday. The business has a fifty day moving average of $135.66 and a 200 day moving average of $128.07. Allegion plc has a 1 year low of $95.94 and a 1 year high of $146.46. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 4.38 and a beta of 1.12.

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

Allegion Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALLE. Barclays lifted their price objective on shares of Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped 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. Finally, StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.