Allegion (NYSE:ALLE) Price Target Raised to $137.00

Allegion (NYSE:ALLE) had its target price increased by Barclays from $135.00 to $137.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an underweight rating on the scientific and technical instruments company’s stock.

A number of other research firms have also recently issued reports on ALLE. Robert W. Baird lifted their target price on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Mizuho upped 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. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Finally, Wells Fargo & Company upped their price target on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $144.60.

Allegion Price Performance

Shares of NYSE:ALLE opened at $139.05 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $12.16 billion, a PE ratio of 22.63, a PEG ratio of 4.50 and a beta of 1.12. The firm has a 50 day moving average of $142.68 and a 200-day moving average of $130.33. Allegion has a 12 month low of $95.97 and a 12 month high of $156.10.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.18. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm had revenue of $967.10 million during the quarter, compared to analysts’ expectations of $970.70 million. During the same period in the prior year, the company earned $1.94 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Allegion will post 7.26 EPS for the current fiscal year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were issued a $0.48 dividend. The ex-dividend date was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.38%. Allegion’s payout ratio is 31.32%.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the sale, the senior vice president now directly owns 7,104 shares in the company, valued at $1,029,511.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALLE. Oak Thistle LLC bought a new position in Allegion during the first quarter worth $278,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Allegion by 5.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company’s stock worth $29,074,000 after purchasing an additional 10,896 shares in the last quarter. Azzad Asset Management Inc. ADV grew its stake in shares of Allegion by 1.8% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 23,373 shares of the scientific and technical instruments company’s stock valued at $3,149,000 after buying an additional 406 shares during the period. Norden Group LLC bought a new stake in Allegion in the 1st quarter valued at about $2,271,000. Finally, Massachusetts Wealth Management acquired a new position in Allegion during the 1st quarter worth approximately $205,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.