Allegion (NYSE:ALLE) Price Target Cut to $144.00 by Analysts at Robert W. Baird

Allegion (NYSE:ALLE) had its target price dropped by investment analysts at Robert W. Baird from $152.00 to $144.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the scientific and technical instruments company’s stock. Robert W. Baird’s target price points to a potential upside of 14.34% from the company’s previous close.

ALLE has been the subject of several other reports. Barclays decreased their target price on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Morgan Stanley initiated coverage on shares of Allegion in a research note on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price objective for the company. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company decreased their target price on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, Allegion presently has a consensus rating of “Hold” and a consensus target price of $138.83.

Allegion Stock Performance

NYSE:ALLE opened at $125.94 on Wednesday. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 3.29 and a beta of 1.11. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average of $132.14 and a 200-day moving average of $137.42.

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. Allegion had a return on equity of 45.64% and a net margin of 15.36%. Analysts forecast that Allegion will post 7.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO John H. Stone bought 7,500 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

A number of institutional investors have recently made changes to their positions in ALLE. Waverly Advisors LLC acquired a new stake in Allegion in the 4th quarter valued at approximately $200,000. Woodline Partners LP bought a new stake in shares of Allegion in the fourth quarter valued at approximately $7,896,000. Sone Capital Management LLC acquired a new stake in shares of Allegion in the fourth quarter worth $498,000. Squarepoint Ops LLC raised its stake in Allegion by 11,506.8% during the 4th quarter. Squarepoint Ops LLC now owns 272,295 shares of the scientific and technical instruments company’s stock valued at $35,584,000 after purchasing an additional 269,949 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in Allegion by 187.1% in the 4th quarter. Tidal Investments LLC now owns 17,854 shares of the scientific and technical instruments company’s stock valued at $2,333,000 after purchasing an additional 11,636 shares during the period. 92.21% of the stock is currently owned by institutional investors.

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.