Allegion plc (NYSE:ALLE) Receives $144.60 Average PT from Brokerages

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

A number of analysts recently weighed in on ALLE shares. Barclays upped their price objective on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research note on Monday, October 28th. Robert W. Baird upped their price objective on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Mizuho upped their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company upped their price objective on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th.

Insiders Place Their Bets

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allegion

Hedge funds have recently modified their holdings of the stock. Norden Group LLC acquired a new position in shares of Allegion during the first quarter valued at about $2,271,000. BNP Paribas Financial Markets increased its holdings in shares of Allegion by 90.7% during the first quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock valued at $16,380,000 after acquiring an additional 57,832 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Allegion by 5.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company’s stock valued at $29,074,000 after acquiring an additional 10,896 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Allegion by 22.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 105,089 shares of the scientific and technical instruments company’s stock valued at $14,157,000 after acquiring an additional 19,570 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Allegion during the second quarter valued at about $3,762,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Up 0.1 %

Shares of ALLE opened at $139.83 on Tuesday. The firm has a market capitalization of $12.16 billion, a P/E ratio of 21.48, a P/E/G ratio of 3.30 and a beta of 1.12. Allegion has a 12-month low of $98.21 and a 12-month 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 fifty day moving average price of $142.92 and a 200-day moving average price of $130.58.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The firm had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. During the same period in the previous year, the firm earned $1.94 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. Equities research analysts expect that Allegion will post 7.45 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were issued a $0.48 dividend. The ex-dividend date was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.37%. Allegion’s dividend payout ratio is presently 29.49%.

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.