Analysts Set Allegion plc (NYSE:ALLE) Target Price at $125.40

Shares of Allegion plc (NYSE:ALLE) have received a consensus recommendation of “Reduce” from the five research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $125.40.

A number of equities research analysts recently weighed in on ALLE shares. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Barclays increased their price objective on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company lifted their target price on Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th.

Hedge Funds Weigh In On Allegion

Several large investors have recently modified their holdings of the business. Stifel Financial Corp grew its holdings in shares of Allegion by 4.1% during the fourth quarter. Stifel Financial Corp now owns 130,196 shares of the scientific and technical instruments company’s stock worth $16,495,000 after purchasing an additional 5,133 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Allegion during the 1st quarter valued at $2,271,000. BNP Paribas Financial Markets lifted its holdings in shares of Allegion by 90.7% during the 1st quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock worth $16,380,000 after acquiring an additional 57,832 shares during the last quarter. Morningstar Investment Services LLC grew its position in Allegion by 107.6% in the fourth quarter. Morningstar Investment Services LLC now owns 218,489 shares of the scientific and technical instruments company’s stock worth $27,717,000 after acquiring an additional 113,227 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Allegion by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 850,987 shares of the scientific and technical instruments company’s stock valued at $107,813,000 after acquiring an additional 19,981 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Up 0.7 %

ALLE stock opened at $137.09 on Monday. The stock’s 50 day simple moving average is $129.99 and its 200 day simple moving average is $126.88. The company has a market cap of $11.94 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 4.13 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. Allegion has a fifty-two week low of $95.94 and a fifty-two week high of $141.99.

Allegion (NYSE:ALLE) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. During the same period in the prior year, the firm earned $1.76 earnings per share. Allegion’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts expect that Allegion will post 7.26 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a $0.48 dividend. The ex-dividend date is Friday, September 20th. This represents a $1.92 annualized dividend and a yield of 1.40%. Allegion’s payout ratio is 31.32%.

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.