Barclays Cuts Allegion (NYSE:ALLE) Price Target to $126.00

Allegion (NYSE:ALLE) had its price target lowered by research analysts at Barclays from $130.00 to $126.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price target suggests a potential downside of 3.24% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Robert W. Baird decreased their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley increased their target price on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company lowered their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $137.67.

Allegion Stock Down 0.1 %

ALLE stock opened at $130.21 on Wednesday. The stock has a market capitalization of $11.24 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. The company has a fifty 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 has a one year low of $113.27 and a one year high of $156.10.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The firm had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. As a group, analysts expect that Allegion will post 7.77 EPS for the current year.

Insider Buying and Selling

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David S. Ilardi sold 789 shares of Allegion stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the sale, the senior vice president now owns 9,625 shares of the company’s stock, valued at approximately $1,205,820. This trade represents a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock worth $406,636 in the last ninety days. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Allegion by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company’s stock valued at $1,400,688,000 after purchasing an additional 177,808 shares during the last quarter. Boston Partners lifted its holdings in shares of 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. State Street Corp boosted its position in shares of Allegion by 1.2% in the third quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after acquiring an additional 49,929 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Allegion by 1.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company’s stock valued at $509,313,000 after purchasing an additional 38,377 shares during the period. Finally, Van ECK Associates Corp increased its position in Allegion by 8.1% during the fourth quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after purchasing an additional 257,175 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.