Allegion (NYSE:ALLE) Price Target Lowered to $130.00 at Barclays

Allegion (NYSE:ALLE) had its target price lowered by Barclays from $134.00 to $130.00 in a research report sent to investors on Wednesday,Benzinga reports. Barclays currently has an underweight rating on the scientific and technical instruments company’s stock.

Several other research analysts have also recently issued reports on ALLE. Robert W. Baird decreased their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Morgan Stanley initiated coverage on shares of Allegion in a research report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price target on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, Allegion presently has a consensus rating of “Hold” and an average price target of $138.33.

Allegion Stock Up 0.4 %

Allegion stock opened at $126.40 on Wednesday. The firm has a market capitalization of $10.99 billion, a P/E ratio of 19.42, a P/E/G ratio of 3.29 and a beta of 1.11. The company has a 50-day simple moving average of $131.57 and a 200-day simple moving average of $137.32. Allegion has a one year low of $113.27 and a one year high of $156.10. 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 (NYSE:ALLE) last announced its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. As a group, equities analysts expect that Allegion will post 7.42 earnings per share for the current year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.61%. This is an increase from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s dividend payout ratio is presently 29.49%.

Insider Transactions at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at $620,008.40. This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John H. Stone bought 7,500 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

A number of hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Allegion in the third quarter worth approximately $4,988,000. Qsemble Capital Management LP purchased a new position in Allegion during the 3rd quarter worth approximately $891,000. Nordea Investment Management AB grew its position in Allegion by 4.4% during the 4th quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock worth $154,643,000 after purchasing an additional 49,176 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Allegion by 4.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock valued at $26,724,000 after purchasing an additional 8,806 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of 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 purchasing an additional 340 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.