Allegion plc (NYSE:ALLE) Receives $144.60 Consensus Price Target from Brokerages

Shares of Allegion plc (NYSE:ALLE) have received an average recommendation of “Reduce” from the five brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $144.60.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Mizuho increased their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays raised their price target on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Finally, Robert W. Baird upped their price objective on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th.

Allegion Price Performance

Shares of ALLE opened at $133.04 on Wednesday. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 3.35 and a beta of 1.10. The stock has a 50 day moving average of $141.48 and a 200-day moving average of $134.74.

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

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.92 annualized dividend and a dividend yield of 1.44%. Allegion’s dividend payout ratio is presently 29.49%.

Insider Activity at Allegion

In other news, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the sale, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John H. Stone acquired 7,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price 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 approximately $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. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of Allegion during the 3rd quarter valued at about $4,988,000. Renaissance Technologies LLC acquired a new position in Allegion in the second quarter worth approximately $27,056,000. Andra AP fonden bought a new position in shares of Allegion in the second quarter valued at $10,704,000. Qsemble Capital Management LP acquired a new stake in shares of Allegion during the 3rd quarter valued at $891,000. Finally, Great Lakes Advisors LLC boosted its stake in shares of Allegion by 183.0% during the 2nd quarter. Great Lakes Advisors LLC now owns 115,294 shares of the scientific and technical instruments company’s stock worth $13,622,000 after acquiring an additional 74,559 shares in the last quarter. 92.21% of the stock is owned by 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.