Millennium Management LLC lifted its stake in shares of Allegion PLC (NYSE:ALLE) by 27.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,991 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,957 shares during the period. Millennium Management LLC’s holdings in Allegion were worth $1,779,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in ALLE. Fort L.P. acquired a new position in Allegion during the second quarter valued at $119,000. Mission Wealth Management LP acquired a new position in Allegion during the second quarter valued at $200,000. Intrust Bank NA acquired a new position in Allegion during the second quarter valued at $205,000. Cypress Wealth Services LLC acquired a new position in Allegion during the second quarter valued at $267,000. Finally, Cornerstone Wealth Management LLC acquired a new position in Allegion during the second quarter valued at $279,000. 94.56% of the stock is currently owned by institutional investors.
ALLE has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on Allegion in a research report on Monday, August 20th. They set an “equal weight” rating and a $88.00 price target on the stock. Credit Suisse Group initiated coverage on Allegion in a research report on Friday, October 12th. They set an “outperform” rating and a $96.00 price target on the stock. Wells Fargo & Co dropped their price target on Allegion from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 17th. Zacks Investment Research raised Allegion from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Monday, July 16th. Finally, ValuEngine raised Allegion from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $94.83.
Shares of NYSE ALLE opened at $82.71 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.24 and a debt-to-equity ratio of 2.37. Allegion PLC has a one year low of $73.85 and a one year high of $92.87. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.41 and a beta of 1.07.
Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, October 25th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.02. The company had revenue of $711.50 million during the quarter, compared to the consensus estimate of $699.07 million. Allegion had a return on equity of 85.03% and a net margin of 11.75%. On average, equities research analysts anticipate that Allegion PLC will post 4.48 EPS for the current fiscal year.
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.
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