Brokerages Set Allegion plc (NYSE:ALLE) PT at $125.40

Allegion plc (NYSE:ALLE) has been assigned a consensus recommendation of “Reduce” from the six ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $125.40.

Several equities research analysts recently weighed in on ALLE shares. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Wells Fargo & Company increased 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. Finally, Barclays boosted their target price on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th.

Allegion Stock Up 1.8 %

Shares of NYSE ALLE opened at $134.53 on Thursday. The company has a market capitalization of $11.76 billion, a P/E ratio of 21.95, a P/E/G ratio of 4.08 and a beta of 1.13. Allegion has a 1 year low of $95.94 and a 1 year high of $141.99. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. The company has a 50 day simple moving average of $124.36 and a 200-day simple moving average of $126.29.

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 analysts’ consensus estimates of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business had revenue of $965.60 million during the quarter, compared to analysts’ expectations of $953.63 million. During the same period in the prior year, the business posted $1.76 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts predict that Allegion will post 7.22 earnings per share for the current year.

Insider Activity at Allegion

In other news, SVP Tracy L. Kemp sold 2,194 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total value of $267,624.12. Following the transaction, the senior vice president now owns 11,103 shares in the company, valued at approximately $1,354,343.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allegion

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kimelman & Baird LLC acquired a new stake in shares of Allegion during the second quarter worth about $39,000. Quarry LP boosted its position in shares of Allegion by 56.0% in the 2nd quarter. Quarry LP now owns 379 shares of the scientific and technical instruments company’s stock valued at $45,000 after purchasing an additional 136 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Allegion by 7.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,458 shares of the scientific and technical instruments company’s stock worth $409,000 after buying an additional 247 shares during the last quarter. Creative Planning lifted its stake in Allegion by 5.8% in the second quarter. Creative Planning now owns 10,877 shares of the scientific and technical instruments company’s stock valued at $1,285,000 after buying an additional 593 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Allegion by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 64,178 shares of the scientific and technical instruments company’s stock valued at $7,583,000 after buying an additional 490 shares during the last quarter. 92.21% of the stock is 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.