Barclays Lowers Allegion (NYSE:ALLE) Price Target to $126.00

Allegion (NYSE:ALLE) had its price target reduced by equities research analysts at Barclays from $130.00 to $126.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price objective would indicate a potential downside of 3.24% from the stock’s previous close.

ALLE has been the subject of several other research reports. Wells Fargo & Company cut their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley boosted their price objective on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Robert W. Baird lowered their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $137.67.

Allegion Trading Down 0.1 %

Shares of ALLE stock opened at $130.21 on Wednesday. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 3.97 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. The stock has a 50 day simple moving average of $129.65 and a 200-day simple moving average of $136.29.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The firm had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. On average, equities research analysts expect that Allegion will post 7.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the sale, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregg C. Sengstack acquired 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was bought at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the purchase, the director now directly owns 8,000 shares in the company, valued at approximately $1,001,920. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 3,224 shares of company stock valued at $406,636 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new stake in Allegion during the 3rd quarter worth $4,988,000. Crew Capital Management Ltd. grew its holdings in shares of Allegion by 224.9% during the fourth quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company’s stock worth $759,000 after purchasing an additional 4,022 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in shares of Allegion during the third quarter worth about $891,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Allegion by 4.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock valued at $26,724,000 after purchasing an additional 8,806 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Allegion by 73.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 18,761 shares of the scientific and technical instruments company’s stock valued at $2,452,000 after purchasing an additional 7,950 shares during the period. 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.