Allegion plc (NYSE:ALLE) Receives $137.67 Average PT from Analysts

Allegion plc (NYSE:ALLE) has received a consensus recommendation of “Reduce” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $137.67.

Several analysts have issued reports on ALLE shares. Barclays cut their price target on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a research report on Wednesday, March 26th. Morgan Stanley increased their target price on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Robert W. Baird decreased their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Finally, StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th.

Insider Activity

In related news, CAO Nickolas A. Musial sold 403 shares of the company’s 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 sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregg C. Sengstack acquired 8,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $1,001,920. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 3,224 shares of company stock valued at $406,636. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

Institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of Allegion by 148.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,127 shares of the scientific and technical instruments company’s stock worth $1,323,000 after buying an additional 6,051 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Allegion in the fourth quarter worth $3,648,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Allegion during the fourth quarter valued at $25,843,000. Azzad Asset Management Inc. ADV raised its position in shares of Allegion by 3.4% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 26,213 shares of the scientific and technical instruments company’s stock worth $3,426,000 after purchasing an additional 852 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Allegion in the 4th quarter worth about $1,329,000. Institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

ALLE opened at $128.32 on Friday. 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 market capitalization of $11.07 billion, a P/E ratio of 18.82, a PEG ratio of 3.97 and a beta of 1.11. The stock has a 50-day moving average price of $129.55 and a 200-day moving average price of $136.25. Allegion has a 12-month low of $113.27 and a 12-month high of $156.10.

Allegion (NYSE:ALLE) last issued its quarterly earnings results 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 business had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. Equities analysts predict that Allegion will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.59%. Allegion’s dividend payout ratio 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.