Morgan Stanley Increases Allegion (NYSE:ALLE) Price Target to $139.00

Allegion (NYSE:ALLE) had its price target raised by investment analysts at Morgan Stanley from $137.00 to $139.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Morgan Stanley’s price objective indicates a potential upside of 9.40% from the stock’s previous close.

A number of other research analysts have also recently commented on ALLE. Barclays reduced their target price on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Wells Fargo & Company reduced their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Robert W. Baird reduced their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $138.33.

Allegion Trading Up 0.4 %

Allegion stock opened at $127.05 on Wednesday. The stock has a market cap of $11.04 billion, a P/E ratio of 18.63, a PEG ratio of 3.09 and a beta of 1.11. Allegion has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The firm’s fifty day moving average price is $131.32 and its 200-day moving average price is $137.24. 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 released its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The business had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a return on equity of 45.53% and a net margin of 15.84%. Equities research analysts forecast that Allegion will post 7.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Allegion

In other news, CEO John H. Stone bought 7,500 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the sale, the chief accounting officer now owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Institutional investors have recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of Allegion during the third quarter worth about $28,000. Concord Wealth Partners purchased a new stake in shares of Allegion during the third quarter worth about $29,000. Millstone Evans Group LLC purchased a new stake in shares of Allegion during the fourth quarter worth about $28,000. Cromwell Holdings LLC raised its stake in Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 92 shares in the last quarter. Finally, Colonial Trust Co SC raised its stake in Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 164 shares in the last quarter. 92.21% of the stock is currently 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.