Allegion plc (NYSE:ALLE) Shares Purchased by Millennium Management LLC

Millennium Management LLC increased its stake in shares of Allegion plc (NYSE:ALLE) by 483.1% during the 2nd quarter, Holdings Channel reports. The fund owned 515,563 shares of the scientific and technical instruments company’s stock after purchasing an additional 427,146 shares during the quarter. Millennium Management LLC’s holdings in Allegion were worth $60,914,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALLE. Corient Private Wealth LLC grew its holdings in Allegion by 8.5% during the fourth quarter. Corient Private Wealth LLC now owns 7,300 shares of the scientific and technical instruments company’s stock worth $925,000 after acquiring an additional 573 shares during the period. Hsbc Holdings PLC grew its holdings in Allegion by 66.7% during the fourth quarter. Hsbc Holdings PLC now owns 58,597 shares of the scientific and technical instruments company’s stock worth $7,398,000 after acquiring an additional 23,454 shares during the period. TD Asset Management Inc grew its holdings in Allegion by 7.1% during the fourth quarter. TD Asset Management Inc now owns 23,935 shares of the scientific and technical instruments company’s stock worth $3,032,000 after acquiring an additional 1,592 shares during the period. Stifel Financial Corp grew its holdings in Allegion by 4.1% during the fourth quarter. Stifel Financial Corp now owns 130,196 shares of the scientific and technical instruments company’s stock worth $16,495,000 after acquiring an additional 5,133 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in Allegion by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 40,166 shares of the scientific and technical instruments company’s stock worth $5,089,000 after acquiring an additional 385 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Performance

Shares of NYSE:ALLE opened at $145.74 on Tuesday. 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 business’s 50 day moving average price is $135.66 and its 200-day moving average price is $128.04. The firm has a market capitalization of $12.74 billion, a PE ratio of 23.77, a P/E/G ratio of 4.38 and a beta of 1.12. Allegion plc has a 1 year low of $95.94 and a 1 year high of $146.46.

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, topping analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 earnings per share. As a group, equities research analysts expect that Allegion plc will post 7.26 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s dividend payout ratio is presently 31.32%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALLE. Wells Fargo & Company raised their price objective on Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Finally, Barclays raised their price objective on Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a report on Thursday, July 25th. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.