Allegion (NYSE:ALLE) Price Target Raised to $150.00

Allegion (NYSE:ALLE) had its price target upped by Mizuho from $135.00 to $150.00 in a report issued on Thursday, Benzinga reports. Mizuho currently has a neutral rating on the scientific and technical instruments company’s stock.

Several other brokerages have also weighed in on ALLE. Barclays increased their price objective on shares of Allegion from $117.00 to $135.00 and gave the stock an “underweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $142.25.

Allegion Stock Performance

Shares of ALLE opened at $153.36 on Thursday. The company has a market capitalization of $13.41 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 4.50 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. Allegion has a 1 year low of $95.94 and a 1 year high of $156.10. The company’s 50 day simple moving average is $140.59 and its 200 day simple moving average is $129.59.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The company had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.76 EPS. On average, sell-side analysts predict that Allegion will post 7.26 EPS for the current year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, September 20th. This represents a $1.92 annualized dividend and a yield of 1.25%. Allegion’s dividend payout ratio is currently 31.32%.

Hedge Funds Weigh In On Allegion

Hedge funds and other institutional investors have recently made changes to their positions in the business. McClarren Financial Advisors Inc. boosted its position in shares of Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 72 shares during the period. Crewe Advisors LLC grew its position in Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 149 shares in the last quarter. Gradient Investments LLC purchased a new stake in shares of Allegion during the second quarter valued at approximately $38,000. Kimelman & Baird LLC acquired a new position in shares of Allegion during the second quarter worth $39,000. Finally, Blue Trust Inc. grew its holdings in Allegion by 54.0% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock valued at $41,000 after purchasing an additional 121 shares in the last quarter. 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.