Allegion (NYSE:ALLE) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Allegion (NYSE:ALLE) from a hold rating to a buy rating in a report released on Monday.

ALLE has been the subject of several other research reports. Barclays downgraded Allegion from an equal weight rating to an underweight rating and decreased their target price for the stock from $122.00 to $116.00 in a research report on Tuesday, June 4th. UBS Group boosted their price target on Allegion from $113.00 to $132.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $126.83.

Allegion Price Performance

Shares of NYSE:ALLE opened at $115.69 on Monday. The company has a market cap of $10.12 billion, a P/E ratio of 18.87, a P/E/G ratio of 3.71 and a beta of 1.13. The company has a quick ratio of 0.87, a current ratio of 1.31 and a debt-to-equity ratio of 1.18. Allegion has a 52 week low of $95.94 and a 52 week high of $136.91. The business has a fifty day simple moving average of $121.03 and a 200-day simple moving average of $125.36.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Allegion had a return on equity of 48.58% and a net margin of 14.93%. The firm had revenue of $893.90 million during the quarter, compared to the consensus estimate of $888.27 million. During the same quarter in the previous year, the business earned $1.58 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Allegion will post 7.09 EPS for the current year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, June 14th. This represents a $1.92 annualized dividend and a dividend yield of 1.66%. Allegion’s dividend payout ratio is 31.32%.

Insider Buying and Selling

In related news, SVP Tracy L. Kemp sold 2,194 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the sale, the senior vice president now directly owns 11,103 shares in the company, valued at $1,354,343.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allegion

Hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC lifted its stake in Allegion by 49.1% during the third quarter. LPL Financial LLC now owns 54,909 shares of the scientific and technical instruments company’s stock worth $5,722,000 after purchasing an additional 18,080 shares during the period. Federated Hermes Inc. lifted its stake in Allegion by 17.8% during the third quarter. Federated Hermes Inc. now owns 6,992 shares of the scientific and technical instruments company’s stock worth $729,000 after purchasing an additional 1,058 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in Allegion by 2.8% during the third quarter. O Shaughnessy Asset Management LLC now owns 8,031 shares of the scientific and technical instruments company’s stock worth $837,000 after purchasing an additional 222 shares during the period. Treasurer of the State of North Carolina lifted its stake in Allegion by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 39,781 shares of the scientific and technical instruments company’s stock worth $4,145,000 after purchasing an additional 205 shares during the period. Finally, Bank of Nova Scotia lifted its stake in Allegion by 28.5% during the third quarter. Bank of Nova Scotia now owns 7,720 shares of the scientific and technical instruments company’s stock worth $804,000 after purchasing an additional 1,714 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

About Allegion

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.