Morgan Stanley Raises Allegion (NYSE:ALLE) Price Target to $139.00

Allegion (NYSE:ALLE) had its price target upped by Morgan Stanley from $137.00 to $139.00 in a research note released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the scientific and technical instruments company’s stock.

ALLE has been the subject of a number of other research reports. Wells Fargo & Company lowered their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday. Barclays dropped their target price on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday. Robert W. Baird decreased their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, Allegion presently has an average rating of “Hold” and a consensus target price of $138.33.

Allegion Stock Performance

ALLE opened at $127.16 on Wednesday. The company has a market cap of $10.97 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 3.99 and a beta of 1.11. The company has a quick ratio of 1.29, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The firm’s 50-day moving average price is $131.32 and its 200-day moving average price is $137.24. Allegion has a 52-week low of $113.27 and a 52-week 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The business had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. As a group, equities analysts anticipate that Allegion will post 7.7 EPS for the current fiscal year.

Allegion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.51 dividend. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s payout ratio is currently 28.15%.

Insider Activity at Allegion

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the firm’s stock in a transaction that occurred 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 approximately $620,008.40. This trade 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 accessible through this hyperlink. Also, Director Gregg C. Sengstack bought 8,000 shares of Allegion stock in a transaction dated Wednesday, February 19th. The shares were acquired at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the purchase, the director now owns 8,000 shares in the company, valued at approximately $1,001,920. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ALLE. Mackenzie Financial Corp increased its stake in Allegion by 270.6% during the 4th quarter. Mackenzie Financial Corp now owns 10,346 shares of the scientific and technical instruments company’s stock worth $1,352,000 after buying an additional 7,554 shares in the last quarter. Amiral Gestion purchased a new stake in shares of Allegion during the fourth quarter worth approximately $2,125,000. Waverly Advisors LLC acquired a new position in Allegion in the 4th quarter valued at $200,000. Woodline Partners LP purchased a new position in Allegion in the 4th quarter valued at $7,896,000. Finally, Sone Capital Management LLC acquired a new stake in Allegion during the 4th quarter worth $498,000. Institutional investors and hedge funds 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.