Allegion plc (NYSE:ALLE) Given Average Recommendation of “Reduce” by Brokerages

Shares of Allegion plc (NYSE:ALLE) have received a consensus recommendation of “Reduce” from the five analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $129.00.

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Finally, Barclays lifted their price objective on shares of Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a report on Wednesday.

Allegion Price Performance

NYSE ALLE opened at $145.89 on Friday. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 4.38 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. The stock has a 50-day moving average of $137.02 and a 200 day moving average of $128.49. Allegion has a one year low of $95.94 and a one year high of $146.76.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. The firm had revenue of $965.60 million for the quarter, compared to the consensus estimate of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.76 earnings per share. On average, sell-side analysts forecast that Allegion will post 7.26 EPS for the current year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Friday, September 20th. Allegion’s payout ratio is 31.32%.

Institutional Trading of Allegion

Hedge funds have recently made changes to their positions in the company. TD Asset Management Inc lifted its holdings in Allegion by 7.1% during the 4th quarter. TD Asset Management Inc now owns 23,935 shares of the scientific and technical instruments company’s stock worth $3,032,000 after buying an additional 1,592 shares in the last quarter. Bank of Nova Scotia raised its position in Allegion by 41.3% in the 4th quarter. Bank of Nova Scotia now owns 10,909 shares of the scientific and technical instruments company’s stock valued at $1,382,000 after purchasing an additional 3,189 shares in the last quarter. KBC Group NV boosted its stake in shares of Allegion by 135.4% in the 4th quarter. KBC Group NV now owns 9,525 shares of the scientific and technical instruments company’s stock valued at $1,207,000 after buying an additional 5,479 shares during the period. NEOS Investment Management LLC acquired a new position in shares of Allegion during the fourth quarter worth about $441,000. Finally, Tower Research Capital LLC TRC raised its stake in Allegion by 132.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,982 shares of the scientific and technical instruments company’s stock valued at $1,645,000 after buying an additional 7,405 shares in the last quarter. Hedge funds and other 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.