Allegion plc (NYSE:ALLE) Receives $140.83 Consensus Price Target from Brokerages

Allegion plc (NYSE:ALLE) has been assigned an average recommendation of “Reduce” from the six analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $140.83.

A number of equities research analysts have issued reports on ALLE shares. Barclays cut their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird lifted their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Mizuho boosted 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. Morgan Stanley started coverage on Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price on the stock. Finally, Wells Fargo & Company cut their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th.

Insider Activity at Allegion

In other news, CEO John H. Stone bought 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the transaction, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the transaction, the senior vice president now 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 owned by corporate insiders.

Institutional Trading of Allegion

Several hedge funds have recently modified their holdings of 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 valued at $589,659,000 after purchasing an additional 49,929 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position 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 valued at $442,019,000 after buying an additional 91,011 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Allegion by 1.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock valued at $479,577,000 after acquiring an additional 39,905 shares during the last quarter. Geode Capital Management LLC grew its position in Allegion by 0.4% in the third 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 increased its stake 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 worth $277,581,000 after acquiring an additional 232,395 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Stock Up 1.2 %

ALLE opened at $129.78 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 3.35 and a beta of 1.11. The firm has a 50 day moving average price of $136.49 and a 200-day moving average price of $136.20.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. The firm had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $1.94 EPS. Equities research analysts forecast that Allegion will post 7.41 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, December 17th. Allegion’s dividend payout ratio (DPR) is 29.49%.

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.