Wells Fargo & Company Lowers Allegion (NYSE:ALLE) Price Target to $140.00

Allegion (NYSE:ALLE) had its price target dropped by analysts at Wells Fargo & Company from $152.00 to $140.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 9.01% from the stock’s previous close.

Other analysts have also issued research reports about the company. Barclays lifted their target price on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Morgan Stanley assumed coverage on Allegion in a research note on Monday. They issued an “equal weight” rating and a $137.00 price target on the stock. Robert W. Baird raised their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Mizuho raised their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Allegion presently has a consensus rating of “Hold” and an average price target of $140.83.

Allegion Trading Up 0.8 %

NYSE ALLE opened at $128.43 on Tuesday. Allegion has a fifty-two week low of $113.27 and a fifty-two 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 stock has a 50 day simple moving average of $137.65 and a two-hundred day simple moving average of $135.80. The stock has a market cap of $11.16 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. The business had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 EPS. On average, analysts forecast that Allegion will post 7.41 earnings per share for the current year.

Insider Activity at Allegion

In related news, CEO John H. Stone bought 7,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the transaction, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction on 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 transaction, the senior vice president now owns 7,104 shares in the company, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegion

Several large investors have recently made changes to their positions in ALLE. Lord Abbett & CO. LLC lifted its position in shares of Allegion by 96.8% in the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after acquiring an additional 823,874 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Allegion by 397.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock valued at $88,450,000 after acquiring an additional 484,995 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Allegion in the third quarter valued at about $666,840,000. Millennium Management LLC lifted its position in shares of Allegion by 483.1% in the second quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock valued at $60,914,000 after acquiring an additional 427,146 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Allegion by 13.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock valued at $277,581,000 after acquiring an additional 232,395 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.