Allegion plc (NYSE:ALLE) Receives $144.60 Average PT from Analysts

Allegion plc (NYSE:ALLE) has earned an average rating of “Reduce” from the five research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $144.60.

Several research analysts recently commented on ALLE shares. Robert W. Baird boosted their price objective on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Barclays upped their price target on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. Mizuho raised their price objective on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company upped their target price on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th.

Allegion Trading Up 1.2 %

Shares of NYSE:ALLE opened at $132.18 on Wednesday. The company has a market capitalization of $11.49 billion, a PE ratio of 20.30, a P/E/G ratio of 3.35 and a beta of 1.10. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. Allegion has a 12-month low of $113.27 and a 12-month high of $156.10. The business’s fifty day simple moving average is $141.83 and its 200-day simple moving average is $134.41.

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 the consensus estimate of $1.98 by $0.18. The company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.94 earnings per share. As a group, equities research analysts predict that Allegion will post 7.41 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.92 annualized dividend and a dividend yield of 1.45%. Allegion’s payout ratio is currently 29.49%.

Insider Activity

In other news, CEO John H. Stone bought 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the transaction, the senior vice president now owns 7,104 shares in the company, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALLE. Principal Financial Group Inc. raised its position in Allegion by 2.4% during the third quarter. Principal Financial Group Inc. now owns 122,481 shares of the scientific and technical instruments company’s stock valued at $17,850,000 after acquiring an additional 2,878 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after purchasing an additional 823,874 shares during the period. Oddo BHF Asset Management Sas purchased a new position in shares of Allegion during the 3rd quarter valued at approximately $15,508,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Allegion in the 3rd quarter valued at $311,000. Finally, Sanctuary Advisors LLC boosted its holdings in Allegion by 4.7% during the third quarter. Sanctuary Advisors LLC now owns 18,871 shares of the scientific and technical instruments company’s stock worth $2,668,000 after buying an additional 844 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Company 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.