Allegion plc (NYSE:ALLE) Holdings Cut by Millennium Management LLC

Millennium Management LLC decreased its holdings in Allegion plc (NYSE:ALLE - Free Report) by 66.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,837 shares of the scientific and technical instruments company's stock after selling 226,929 shares during the quarter. Millennium Management LLC owned approximately 0.13% of Allegion worth $14,876,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Douglass Winthrop Advisors LLC increased its stake in shares of Allegion by 0.4% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company's stock worth $2,911,000 after purchasing an additional 80 shares during the last quarter. Waterloo Capital L.P. increased its stake in shares of Allegion by 1.2% during the fourth quarter. Waterloo Capital L.P. now owns 7,180 shares of the scientific and technical instruments company's stock valued at $938,000 after purchasing an additional 83 shares in the last quarter. IFP Advisors Inc increased its position in shares of Allegion by 23.2% during the fourth quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company's stock valued at $59,000 after acquiring an additional 85 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Allegion by 33.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock worth $53,000 after purchasing an additional 101 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in Allegion by 1.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,256 shares of the scientific and technical instruments company's stock worth $1,471,000 after purchasing an additional 110 shares during the period. Institutional investors own 92.21% of the company's stock.

Insider Transactions at Allegion

In related news, SVP David S. Ilardi sold 789 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the completion of the transaction, the senior vice president now owns 9,625 shares of the company's stock, valued at approximately $1,205,820. This trade represents a 7.58% decrease in their position. 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 firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the transaction, the senior vice president now directly owns 10,273 shares of the company's stock, valued at $1,302,000.02. This represents a 16.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

Allegion Stock Down 0.6%

NYSE:ALLE traded down $0.82 during midday trading on Wednesday, hitting $143.71. 104,425 shares of the company were exchanged, compared to its average volume of 849,492. The company has a market capitalization of $12.37 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 3.97 and a beta of 1.02. The company has a fifty day simple moving average of $133.41 and a 200 day simple moving average of $133.10. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week high of $156.10.

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

Allegion Announces Dividend

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 issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, June 13th. Allegion's payout ratio is 28.65%.

Analysts Set New Price Targets

A number of brokerages recently commented on ALLE. Wall Street Zen lowered 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. Robert W. Baird lifted their price target on Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Wells Fargo & Company lowered their target price on Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Finally, Morgan Stanley boosted their target price on Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $140.40.

Allegion Company 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.