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

Allegion plc (NYSE:ALLE) has earned an average recommendation of “Reduce” from the five analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $144.60.

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Mizuho lifted their target price on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their price target on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Barclays lifted their price objective on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, Robert W. Baird increased their target price on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th.

Insider Buying and Selling at Allegion

In related news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now owns 7,104 shares in the company, valued at $1,029,511.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLE. International Assets Investment Management LLC acquired a new stake in Allegion in the third quarter valued at approximately $666,840,000. Millennium Management LLC lifted its holdings in shares of Allegion by 483.1% in the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock worth $60,914,000 after purchasing an additional 427,146 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Allegion in the 2nd quarter valued at $27,056,000. AXA S.A. increased its stake in Allegion by 83.6% during the 2nd quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company’s stock valued at $39,179,000 after purchasing an additional 151,013 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Allegion by 7.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock worth $197,575,000 after buying an additional 120,870 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Allegion Trading Up 0.4 %

NYSE ALLE opened at $139.63 on Tuesday. The company has a market cap of $12.21 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12. Allegion has a twelve month low of $95.97 and a twelve month high of $156.10. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The business’s fifty day moving average is $142.77 and its 200 day moving average is $130.39.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.18. The company had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.94 earnings per share. As a group, sell-side analysts expect that Allegion will post 7.26 EPS for the current fiscal year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, September 20th. This represents a $1.92 annualized dividend and a yield of 1.38%. Allegion’s dividend payout ratio is currently 31.32%.

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.