Millennium Management LLC Decreases Stake in Allegion plc (NYSE:ALLE)

Millennium Management LLC lowered its stake in Allegion plc (NYSE:ALLE - Free Report) by 66.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,837 shares of the scientific and technical instruments company's stock after selling 226,929 shares during the period. Millennium Management LLC owned 0.13% of Allegion worth $14,876,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Douglass Winthrop Advisors LLC raised its holdings in shares of Allegion by 0.4% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company's stock worth $2,911,000 after buying an additional 80 shares during the last quarter. Waterloo Capital L.P. raised its holdings in shares of Allegion by 1.2% in the fourth quarter. Waterloo Capital L.P. now owns 7,180 shares of the scientific and technical instruments company's stock worth $938,000 after buying an additional 83 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Allegion by 23.2% in the fourth quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company's stock worth $59,000 after buying an additional 85 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Allegion by 33.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock worth $53,000 after buying an additional 101 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of Allegion by 1.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,256 shares of the scientific and technical instruments company's stock worth $1,471,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Stock Down 0.3%

ALLE stock opened at $141.54 on Friday. The firm has a market cap of $12.18 billion, a PE ratio of 20.75, a P/E/G ratio of 3.97 and a beta of 1.02. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The firm's fifty day moving average is $132.56 and its 200 day moving average is $133.16. Allegion plc has a one year low of $113.27 and a one year high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.68 by $0.18. The company had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The firm's revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $1.55 earnings per share. On average, research analysts forecast that Allegion plc will post 7.77 EPS for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 1.44%. Allegion's dividend payout ratio is presently 28.65%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Robert W. Baird increased their price objective on shares of Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Wall Street Zen lowered shares of Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Barclays increased their price objective on shares of Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a research note on Friday, April 25th. Finally, Wells Fargo & Company cut their price objective on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, Allegion currently has a consensus rating of "Hold" and a consensus target price of $140.40.

Insider Activity at Allegion

In other Allegion news, SVP David S. Ilardi sold 789 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the transaction, the senior vice president now directly owns 9,625 shares of the company's stock, valued at $1,205,820. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the transaction, the senior vice president now directly owns 10,273 shares in the company, valued at approximately $1,302,000.02. The trade was a 16.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

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.

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