Allegion (NYSE:ALLE) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Allegion (NYSE:ALLE) from a buy rating to a hold rating in a report published on Tuesday morning.

Other equities analysts have also issued reports about the company. Robert W. Baird boosted their price target on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Barclays lowered their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Mizuho upped their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company decreased their price target on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Morgan Stanley assumed coverage on shares of Allegion in a research note on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price objective for the company. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $140.83.

Allegion Trading Up 1.2 %

Shares of Allegion stock opened at $129.78 on Tuesday. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10. The company’s fifty day simple moving average is $136.49 and its 200-day simple moving average is $136.20. The company has a market cap 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 company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating 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 the consensus estimate of $970.70 million. During the same period in the prior year, the firm earned $1.94 EPS. The business’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts expect that Allegion will post 7.41 EPS for the current year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.92 annualized dividend and a yield of 1.48%. Allegion’s dividend payout ratio is currently 29.49%.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on Friday, October 25th. The stock was 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 approximately $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John H. Stone bought 7,500 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the purchase, the chief executive officer now owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Allegion

Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in Allegion during the 3rd quarter worth $4,988,000. Renaissance Technologies LLC bought a new stake in shares of Allegion during the second quarter worth $27,056,000. Qsemble Capital Management LP acquired a new position in shares of Allegion during the third quarter valued at $891,000. Nordea Investment Management AB lifted its stake in shares of Allegion by 4.4% during the fourth 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 acquiring an additional 49,176 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Allegion by 4.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock valued at $1,260,000 after acquiring an additional 340 shares during the last quarter. Institutional investors 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.