Allegion (NYSE:ALLE) Price Target Cut to $134.00 by Analysts at Barclays

Allegion (NYSE:ALLE) had its price objective reduced by Barclays from $137.00 to $134.00 in a report released on Wednesday morning,Benzinga reports. They currently have an underweight rating on the scientific and technical instruments company’s stock.

A number of other brokerages have also recently commented on ALLE. Mizuho increased their price target 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. Wells Fargo & Company cut their price target on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday. Morgan Stanley initiated coverage on Allegion in a research report on Monday. They set an “equal weight” rating and a $137.00 price objective for the company. Finally, Robert W. Baird raised their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Allegion has an average rating of “Hold” and a consensus price target of $140.83.

Allegion Stock Up 0.8 %

Shares of NYSE ALLE opened at $128.43 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion has a 52-week low of $113.27 and a 52-week high of $156.10. The company’s 50 day moving average price is $137.44 and its 200-day moving average price is $135.75. The company has a market capitalization of $11.16 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The firm had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. During the same quarter last year, the business earned $1.94 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that Allegion will post 7.41 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, December 17th. Allegion’s dividend payout ratio (DPR) is presently 29.49%.

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 that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the sale, the senior vice president now directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John H. Stone acquired 7,500 shares of the stock in a transaction 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 purchase, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allegion

Hedge funds have recently bought and sold shares of the company. Diversified Trust Co purchased a new position in Allegion during the 4th quarter worth approximately $1,773,000. Fortem Financial Group LLC lifted its holdings in shares of Allegion by 4.6% in the 4th quarter. Fortem Financial Group LLC now owns 5,604 shares of the scientific and technical instruments company’s stock valued at $732,000 after buying an additional 245 shares during the period. Nordea Investment Management AB increased its stake in Allegion by 4.4% in the 4th quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock valued at $154,643,000 after purchasing an additional 49,176 shares in the last quarter. GAMMA Investing LLC increased its stake in Allegion by 55.6% in the 4th quarter. GAMMA Investing LLC now owns 504 shares of the scientific and technical instruments company’s stock valued at $66,000 after purchasing an additional 180 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in Allegion by 271.5% during the fourth quarter. Versant Capital Management Inc now owns 613 shares of the scientific and technical instruments company’s stock worth $80,000 after buying an additional 448 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.