Allegion PLC $ALLE Shares Purchased by Millennium Management LLC

Millennium Management LLC increased its holdings in shares of Allegion PLC (NYSE:ALLE) by 71.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 194,733 shares of the scientific and technical instruments company’s stock after purchasing an additional 80,896 shares during the quarter. Millennium Management LLC owned 0.23% of Allegion worth $25,405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wayfinding Financial LLC acquired a new position in Allegion in the 1st quarter valued at about $30,000. Garde Capital Inc. acquired a new position in Allegion in the 1st quarter valued at about $36,000. Cary Street Partners Investment Advisory LLC grew its position in Allegion by 91.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company’s stock valued at $39,000 after acquiring an additional 143 shares in the last quarter. National Pension Service grew its position in Allegion by 75.0% in the 1st quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 138 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in Allegion in the 1st quarter valued at about $44,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALLE has been the subject of several research reports. The Goldman Sachs Group lifted their target price on Allegion from $149.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their target price on Allegion from $150.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. Barclays raised Allegion from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $156.00 to $163.00 in a research report on Thursday, August 14th. Mizuho lifted their price objective on Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. started coverage on Allegion in a research note on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Allegion has a consensus rating of “Hold” and a consensus target price of $166.75.

Insider Activity at Allegion

In related news, SVP Tracy L. Kemp sold 3,849 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $164.92, for a total transaction of $634,777.08. Following the completion of the sale, the senior vice president owned 8,773 shares in the company, valued at $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the sale, the senior vice president owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Allegion Stock Performance

Shares of ALLE opened at $177.56 on Friday. The stock has a 50-day simple moving average of $163.01 and a 200-day simple moving average of $144.27. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30. The stock has a market capitalization of $15.24 billion, a PE ratio of 24.66, a PEG ratio of 3.66 and a beta of 1.07. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $177.75.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, analysts predict that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 1.1%. Allegion’s payout ratio is presently 28.33%.

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.