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

Shares of Allegion plc (NYSE:ALLE) have received a consensus rating of “Reduce” from the six research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $137.67.

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

Insider Activity

In related news, SVP David S. Ilardi sold 789 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total value of $98,845.92. Following the sale, the senior vice president now directly owns 9,625 shares in the company, valued at $1,205,820. This trade represents a 7.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregg C. Sengstack purchased 8,000 shares of Allegion stock in a transaction on Wednesday, February 19th. The shares were acquired at an average price 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 in the company, valued at $1,001,920. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allegion

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its stake in Allegion by 42.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,265 shares of the scientific and technical instruments company’s stock valued at $768,000 after buying an additional 1,576 shares during the period. Pathstone Holdings LLC increased its stake in shares of Allegion by 4.9% during the third quarter. Pathstone Holdings LLC now owns 12,767 shares of the scientific and technical instruments company’s stock valued at $1,861,000 after acquiring an additional 596 shares during the period. Cerity Partners LLC raised its holdings in Allegion by 39.7% during the third quarter. Cerity Partners LLC now owns 18,903 shares of the scientific and technical instruments company’s stock worth $2,755,000 after purchasing an additional 5,373 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Allegion by 13.7% in the third quarter. Daiwa Securities Group Inc. now owns 10,811 shares of the scientific and technical instruments company’s stock worth $1,576,000 after purchasing an additional 1,303 shares during the period. Finally, Dai ichi Life Insurance Company Ltd bought a new position in Allegion during the 3rd quarter valued at $717,000. 92.21% of the stock is currently owned by institutional investors.

Allegion Stock Performance

Allegion stock opened at $127.21 on Friday. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10. 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 cap of $10.98 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. The stock has a 50 day moving average of $129.28 and a 200-day moving average of $136.02.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. On average, analysts expect that Allegion will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.51 dividend. The ex-dividend date of this dividend was 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 1.60%. Allegion’s dividend payout ratio (DPR) is currently 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.