Allegion plc (NYSE:ALLE) Receives Average Rating of “Reduce” from Analysts

Shares of Allegion plc (NYSE:ALLE) have earned an average recommendation of “Reduce” from the six analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $137.67.

ALLE has been the subject of several recent analyst reports. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley upped their price target on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Wells Fargo & Company decreased their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird cut their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, Barclays decreased their price target on Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a research note on Wednesday.

Allegion Trading Down 0.1 %

Shares of Allegion stock opened at $130.21 on Friday. Allegion has a 52-week low of $113.27 and a 52-week high of $156.10. The stock has a market cap of $11.24 billion, a PE ratio of 19.09, a PEG ratio of 3.97 and a beta of 1.11. The firm has a 50-day moving average of $129.65 and a 200-day moving average of $136.29. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04.

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 for the quarter, compared to analyst estimates of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. As a group, sell-side analysts forecast that Allegion will post 7.77 EPS for the current year.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.57%. Allegion’s dividend payout ratio is 29.91%.

Insider Activity

In other Allegion news, SVP Tracy L. Kemp sold 2,032 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the sale, the senior vice president now directly owns 10,273 shares of the company’s stock, valued at $1,302,000.02. The trade was a 16.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregg C. Sengstack purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was acquired at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the transaction, the director now owns 8,000 shares in the company, valued at approximately $1,001,920. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 3,224 shares of company stock worth $406,636. Insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Several institutional investors have recently modified their holdings of ALLE. Brooklyn Investment Group bought a new position in Allegion during the 3rd quarter worth $28,000. Millstone Evans Group LLC bought a new position in Allegion during the 4th quarter worth approximately $28,000. Colonial Trust Co SC boosted its stake in shares of Allegion by 192.9% in the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 164 shares during the last quarter. Atala Financial Inc acquired a new stake in shares of Allegion during the fourth quarter worth $35,000. Finally, GeoWealth Management LLC raised its stake in Allegion by 259.3% during the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 223 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.