Allegion (NYSE:ALLE) Price Target Raised to $137.00

Allegion (NYSE:ALLE) had its target price increased by Barclays from $135.00 to $137.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an underweight rating on the scientific and technical instruments company’s stock.

ALLE has been the subject of several other research reports. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Mizuho lifted their price target on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their price target on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their price target on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $144.60.

Allegion Price Performance

Shares of ALLE stock opened at $139.05 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. Allegion has a 12-month low of $95.97 and a 12-month high of $156.10. The firm has a fifty day moving average of $142.68 and a 200-day moving average of $130.33. The firm has a market capitalization of $12.16 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm had revenue of $967.10 million during the quarter, compared to analysts’ expectations of $970.70 million. During the same period in the previous year, the firm earned $1.94 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Allegion will post 7.26 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.38%. Allegion’s payout ratio is 31.32%.

Insider Buying and Selling

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the sale, the senior vice president now owns 7,104 shares in the company, valued at $1,029,511.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Allegion

Hedge funds and other institutional investors have recently modified their holdings of the stock. McClarren Financial Advisors Inc. lifted its holdings in shares of Allegion by 61.0% during the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 72 shares in the last quarter. Crewe Advisors LLC grew its position in shares of Allegion by 160.2% during the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Concord Wealth Partners bought a new position in shares of Allegion during the third quarter worth approximately $29,000. Cromwell Holdings LLC increased its holdings in shares of Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 92 shares during the period. Finally, Gradient Investments LLC acquired a new stake in shares of Allegion in the second quarter valued at approximately $38,000. Institutional investors own 92.21% of the company’s stock.

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.