Barclays Boosts Allegion (NYSE:ALLE) Price Target to $117.00

Allegion (NYSE:ALLE) had its target price boosted by Barclays from $112.00 to $117.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an underweight rating on the scientific and technical instruments company’s stock.

ALLE has been the subject of several other research reports. StockNews.com downgraded shares of Allegion from a buy rating to a hold rating in a research report on Friday, July 19th. Wells Fargo & Company cut their price objective on shares of Allegion from $141.00 to $125.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. Finally, UBS Group increased their price objective on shares of Allegion from $113.00 to $132.00 and gave the company a neutral rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $125.40.

Allegion Stock Up 2.9 %

ALLE opened at $136.77 on Thursday. Allegion has a twelve month low of $95.94 and a twelve month high of $137.52. The company has a quick ratio of 0.87, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The company has a 50-day moving average price of $120.26 and a 200 day moving average price of $125.26. The company has a market cap of $11.92 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 4.22 and a beta of 1.13.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. During the same quarter in the prior year, the firm earned $1.76 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts expect that Allegion will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Tracy L. Kemp sold 2,194 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the sale, the senior vice president now owns 11,103 shares in the company, valued at approximately $1,354,343.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parsons Capital Management Inc. RI increased its holdings in shares of Allegion by 0.6% during the 1st quarter. Parsons Capital Management Inc. RI now owns 16,625 shares of the scientific and technical instruments company’s stock worth $2,240,000 after buying an additional 91 shares during the last quarter. Pitcairn Co. increased its holdings in Allegion by 3.5% in the 1st quarter. Pitcairn Co. now owns 2,784 shares of the scientific and technical instruments company’s stock valued at $375,000 after purchasing an additional 94 shares during the last quarter. Schechter Investment Advisors LLC increased its holdings in Allegion by 3.9% in the 4th quarter. Schechter Investment Advisors LLC now owns 2,554 shares of the scientific and technical instruments company’s stock valued at $324,000 after purchasing an additional 97 shares during the last quarter. Allworth Financial LP increased its holdings in Allegion by 11.8% in the 4th quarter. Allworth Financial LP now owns 982 shares of the scientific and technical instruments company’s stock valued at $124,000 after purchasing an additional 104 shares during the last quarter. Finally, First Hawaiian Bank increased its holdings in Allegion by 6.3% in the 1st quarter. First Hawaiian Bank now owns 1,861 shares of the scientific and technical instruments company’s stock valued at $251,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds 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.