Morgan Stanley Begins Coverage on Allegion (NYSE:ALLE)

Morgan Stanley started coverage on shares of Allegion (NYSE:ALLE) in a research report released on Monday, Marketbeat reports. The firm issued an equal weight rating and a $137.00 target price on the scientific and technical instruments company’s stock.

Several other analysts also recently weighed in on ALLE. Mizuho lifted their target price on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Robert W. Baird raised their price target on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Barclays boosted their price objective on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $143.33.

Allegion Stock Performance

NYSE:ALLE opened at $129.07 on Monday. The company’s 50-day moving average is $137.90 and its two-hundred day moving average is $135.72. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 3.35 and a beta of 1.11.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.98 by $0.18. The firm had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.94 EPS. Analysts forecast that Allegion will post 7.41 EPS for the current year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.92 annualized dividend and a dividend yield of 1.49%. Allegion’s dividend payout ratio (DPR) is currently 29.49%.

Insider Transactions at Allegion

In related news, CEO John H. Stone bought 7,500 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was bought at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the senior vice president now owns 7,104 shares in the company, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Institutional investors have recently bought and sold shares of the company. McClarren Financial Advisors Inc. grew its position in shares of Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 72 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Allegion during the third quarter worth about $28,000. Concord Wealth Partners acquired a new position in shares of Allegion in the third quarter valued at approximately $29,000. Cromwell Holdings LLC lifted its stake 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 valued at $34,000 after buying an additional 92 shares during the period. Finally, Kimelman & Baird LLC acquired a new stake in Allegion during the second quarter worth approximately $39,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.