Brokerages Set Allegion plc (NYSE:ALLE) Target Price at $138.33

Shares of Allegion plc (NYSE:ALLE) have been given an average recommendation of “Reduce” by the six analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $138.33.

Several equities analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Barclays reduced their price objective on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Morgan Stanley increased their target price on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird dropped their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th.

Insider Activity at Allegion

In related news, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the transaction, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregg C. Sengstack purchased 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was bought at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fiduciary Management Inc. WI acquired a new stake in Allegion during the 4th quarter worth about $116,484,000. Norges Bank acquired a new stake in Allegion during the 4th quarter worth about $108,058,000. Lord Abbett & CO. LLC boosted its position in Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after acquiring an additional 823,874 shares during the period. Raymond James Financial Inc. acquired a new stake in Allegion during the 4th quarter worth about $65,175,000. Finally, Boston Partners boosted its position in Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock worth $616,503,000 after acquiring an additional 488,390 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Performance

Allegion stock opened at $126.51 on Monday. The stock has a market cap of $10.92 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 3.97 and a beta of 1.10. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The stock has a 50 day moving average of $130.14 and a 200-day moving average of $137.18. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10.

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 the consensus estimate of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The company had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. On average, analysts expect that Allegion will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The firm 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. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. Allegion’s dividend payout ratio (DPR) is 29.91%.

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.