Allegion (NYSE:ALLE) Price Target Cut to $112.00

Allegion (NYSE:ALLE) had its price objective decreased by equities researchers at Barclays from $116.00 to $112.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price objective would indicate a potential downside of 4.24% from the stock’s previous close.

ALLE has been the subject of several other reports. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. UBS Group upped their price objective on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company lowered their price objective on shares of Allegion from $141.00 to $125.00 and set an “equal weight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $123.67.

Allegion Stock Up 2.0 %

ALLE opened at $116.96 on Wednesday. The company has a fifty day moving average price of $119.81 and a 200-day moving average price of $125.07. The firm has a market capitalization of $10.23 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 3.62 and a beta of 1.13. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.31 and a quick ratio of 0.87. Allegion has a one year low of $95.94 and a one year high of $136.91.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The company had revenue of $893.90 million during the quarter, compared to analyst estimates of $888.27 million. During the same period in the previous year, the business earned $1.58 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts expect that Allegion will post 7.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Tracy L. Kemp sold 2,194 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total value of $267,624.12. Following the sale, the senior vice president now owns 11,103 shares in the company, valued at $1,354,343.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALLE. Headinvest LLC bought a new position in Allegion in the third quarter worth approximately $48,000. Park National Corp OH bought a new position in Allegion in the fourth quarter worth approximately $234,000. Thrive Wealth Management LLC bought a new position in Allegion in the fourth quarter worth approximately $210,000. Dfpg Investments LLC raised its position in Allegion by 5.4% in the fourth quarter. Dfpg Investments LLC now owns 6,132 shares of the scientific and technical instruments company’s stock worth $745,000 after acquiring an additional 313 shares during the period. Finally, Nordea Investment Management AB raised its position in Allegion by 1.8% in the fourth quarter. Nordea Investment Management AB now owns 1,310,495 shares of the scientific and technical instruments company’s stock worth $165,516,000 after acquiring an additional 23,155 shares during the period. 92.21% of the stock is currently owned by institutional investors.

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.