Brokerages Set Allegion plc (NYSE:ALLE) Target Price at $129.00

Shares of Allegion plc (NYSE:ALLE) have received a consensus rating of “Reduce” from the five brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $132.00.

ALLE has been the topic of several analyst reports. Barclays increased their price target on Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Finally, Wells Fargo & Company boosted their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday.

Institutional Investors Weigh In On Allegion

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in 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 valued at $60,914,000 after acquiring an additional 427,146 shares in the last quarter. Renaissance Technologies LLC bought a new position in Allegion in the second quarter worth $27,056,000. Hawk Ridge Capital Management LP boosted its stake in Allegion by 39.8% during the fourth quarter. Hawk Ridge Capital Management LP now owns 712,774 shares of the scientific and technical instruments company’s stock worth $90,301,000 after buying an additional 202,774 shares in the last quarter. AXA S.A. boosted its stake in Allegion by 83.6% during the second quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company’s stock worth $39,179,000 after buying an additional 151,013 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new stake in Allegion in the 4th quarter valued at $16,902,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Performance

Shares of ALLE opened at $144.68 on Friday. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 4.38 and a beta of 1.12. The company’s fifty day moving average is $137.92 and its 200-day moving average is $128.90. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. Allegion has a 12 month low of $95.94 and a 12 month high of $147.14.

Allegion (NYSE:ALLE) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. The company had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $1.76 earnings per share. Equities analysts expect that Allegion will post 7.26 EPS for the current fiscal year.

Allegion Dividend Announcement

The business 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. This represents a $1.92 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s 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.