Wells Fargo & Company Lowers Allegion (NYSE:ALLE) Price Target to $140.00

Allegion (NYSE:ALLE) had its price objective lowered by Wells Fargo & Company from $152.00 to $140.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the scientific and technical instruments company’s stock.

ALLE has been the subject of several other research reports. Morgan Stanley started coverage on Allegion in a report on Monday. They issued an “equal weight” rating and a $137.00 price objective for the company. Robert W. Baird increased their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Mizuho lifted their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays upped their target price on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Allegion has an average rating of “Hold” and a consensus price target of $140.83.

Allegion Stock Up 0.8 %

Shares of ALLE stock opened at $128.43 on Tuesday. The firm’s fifty day moving average price is $137.44 and its two-hundred day moving average price is $135.75. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $11.16 billion, a P/E ratio of 19.73, a PEG ratio of 3.35 and a beta of 1.11.

Allegion (NYSE:ALLE) last released 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 45.64% and a net margin of 15.36%. The business had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. During the same quarter in the previous year, the business earned $1.94 earnings per share. Allegion’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that Allegion will post 7.41 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Tuesday, December 17th. Allegion’s payout ratio is presently 29.49%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Allegion

A number of hedge funds and other institutional investors have recently made changes to their positions in ALLE. State Street Corp lifted its position in Allegion by 1.2% during the third quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after purchasing an additional 49,929 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Allegion by 2.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock worth $442,019,000 after acquiring an additional 91,011 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Allegion by 1.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock worth $479,577,000 after acquiring an additional 39,905 shares during the period. Geode Capital Management LLC boosted its position in shares of Allegion by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock worth $306,699,000 after acquiring an additional 8,023 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Allegion by 13.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock valued at $277,581,000 after purchasing an additional 232,395 shares in the last quarter. 92.21% of the stock is currently 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.