Barclays Has Lowered Expectations for Allegion (NYSE:ALLE) Stock Price

Allegion (NYSE:ALLE) had its price target lowered by Barclays from $137.00 to $134.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an underweight rating on the scientific and technical instruments company’s stock.

A number of other brokerages have also commented on ALLE. Wells Fargo & Company cut their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday. Morgan Stanley initiated coverage on shares of Allegion in a research note on Monday, January 6th. They set an “equal weight” rating and a $137.00 price target for the company. Mizuho boosted their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird boosted their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Allegion has a consensus rating of “Hold” and a consensus target price of $140.83.

Allegion Trading Down 1.7 %

NYSE:ALLE opened at $126.19 on Wednesday. The business’s 50-day simple moving average is $136.94 and its 200-day simple moving average is $135.75. 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 current ratio of 1.71 and a quick ratio of 1.29. The stock has a market capitalization of $10.97 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company had revenue of $967.10 million during the quarter, compared to analysts’ expectations of $970.70 million. During the same quarter in the prior year, the company earned $1.94 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts expect that Allegion will post 7.41 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.48 per share. The ex-dividend date was Tuesday, December 17th. This represents a $1.92 annualized dividend and a dividend yield of 1.52%. Allegion’s dividend payout ratio is presently 29.49%.

Insider Activity

In other news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the sale, the senior vice president now owns 7,104 shares in the company, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John H. Stone bought 7,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was purchased at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Allegion

A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in Allegion in the third quarter valued at about $4,988,000. Renaissance Technologies LLC bought a new position in Allegion in the second quarter valued at about $27,056,000. Andra AP fonden acquired a new position in Allegion during the second quarter worth about $10,704,000. Qsemble Capital Management LP bought a new position in shares of Allegion in the third quarter worth about $891,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Allegion by 4.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock valued at $1,260,000 after purchasing an additional 340 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.