Millennium Management LLC Boosts Stock Position in Allegion plc (NYSE:ALLE)

Millennium Management LLC grew its position in Allegion plc (NYSE:ALLE) by 483.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 515,563 shares of the scientific and technical instruments company’s stock after buying an additional 427,146 shares during the quarter. Millennium Management LLC owned 0.59% of Allegion worth $60,914,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Boston Partners lifted its holdings in shares of Allegion by 1.5% in the 1st quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock worth $673,441,000 after buying an additional 72,773 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Allegion by 2.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock worth $442,019,000 after buying an additional 91,011 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Allegion by 2.8% in the 1st quarter. Van ECK Associates Corp now owns 3,306,600 shares of the scientific and technical instruments company’s stock worth $445,432,000 after buying an additional 90,951 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Allegion by 7.8% in the 2nd 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 buying an additional 120,870 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Allegion by 1.4% in the 1st quarter. Russell Investments Group Ltd. now owns 856,816 shares of the scientific and technical instruments company’s stock worth $115,411,000 after buying an additional 11,947 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on ALLE. Barclays upped their target price on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a report on Thursday, July 25th. 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. Finally, StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research report 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Allegion currently has a consensus rating of “Hold” and a consensus price target of $125.40.

Allegion Trading Up 1.4 %

Allegion stock opened at $145.74 on Tuesday. The stock has a 50-day moving average of $135.66 and a two-hundred day moving average of $128.04. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. Allegion plc has a one year low of $95.94 and a one year high of $146.46. The stock has a market cap of $12.74 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 4.38 and a beta of 1.12.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company 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 firm’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that Allegion plc will post 7.26 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s payout ratio is 31.32%.

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.