Allegion (NYSE:ALLE) Given New $130.00 Price Target at Barclays

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

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

Allegion Trading Up 0.0 %

Shares of NYSE:ALLE opened at $127.16 on Wednesday. The stock’s 50-day simple moving average is $131.32 and its two-hundred day simple moving average is $137.24. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 3.99 and a beta of 1.11. 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 1.32, a quick ratio of 1.29 and a current ratio of 2.04.

Allegion (NYSE:ALLE) last announced its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. Analysts expect that Allegion will post 7.7 EPS for the current year.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 1.60%. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s payout ratio is presently 28.15%.

Insider Buying and Selling at Allegion

In other Allegion news, CEO John H. Stone bought 7,500 shares of Allegion stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gregg C. Sengstack bought 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were acquired at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $1,001,920. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Allegion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new position in shares of Allegion during the 3rd quarter valued at approximately $28,000. Millstone Evans Group LLC purchased 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 valued at $29,000. Colonial Trust Co SC raised its stake in shares of 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 valued at $33,000 after acquiring an additional 164 shares during the period. Finally, Cromwell Holdings LLC lifted its holdings in shares of Allegion by 65.2% in the 3rd 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 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.