Allegion (NYSE:ALLE) Given New $144.00 Price Target at Robert W. Baird

Allegion (NYSE:ALLE) had its target price decreased by Robert W. Baird from $152.00 to $144.00 in a report released on Wednesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Barclays decreased their target price on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley began coverage on shares of Allegion in a research note on Monday, January 6th. They set an “equal weight” rating and a $137.00 target price for the company. Finally, StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $138.33.

Allegion Trading Up 0.4 %

Allegion stock opened at $126.40 on Wednesday. The company has a 50 day moving average price of $131.57 and a 200 day moving average price of $137.32. Allegion has a 52 week low of $113.27 and a 52 week 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. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 3.29 and a beta of 1.11.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The firm had revenue of $945.60 million during 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%. Research analysts forecast that Allegion will post 7.42 EPS for the current year.

Allegion Increases Dividend

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

Insider Transactions at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the sale, the chief accounting officer now directly owns 4,972 shares in the company, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John H. Stone acquired 7,500 shares of Allegion stock in a transaction dated Tuesday, December 3rd. The stock was purchased 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 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 owned by corporate insiders.

Hedge Funds Weigh In On Allegion

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group bought a new position in Allegion during the third quarter worth $28,000. Millstone Evans Group LLC bought a new position in Allegion during the fourth quarter worth $28,000. Concord Wealth Partners bought a new position in Allegion during the third quarter worth $29,000. Colonial Trust Co SC increased its position in Allegion by 192.9% during the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 164 shares during the period. Finally, Cromwell Holdings LLC increased its position in Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 92 shares during the period. Institutional investors own 92.21% of the company’s stock.

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.