Allegion (NYSE:ALLE) Shares Gap Down – Should You Sell?

Allegion plc (NYSE:ALLE)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $150.86, but opened at $142.34. Allegion shares last traded at $143.65, with a volume of 137,472 shares traded.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company increased their price target on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Robert W. Baird raised their target price on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday. Mizuho upped their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays lifted their price objective on shares of Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $144.20.

Allegion Price Performance

The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. The business’s 50-day moving average price is $142.34 and its two-hundred day moving average price is $130.18. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 4.50 and a beta of 1.12.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The company had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. During the same quarter in the previous year, the firm earned $1.94 EPS. The company’s revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that Allegion plc will post 7.26 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a $0.48 dividend. The ex-dividend date was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.35%. Allegion’s payout ratio is 31.32%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALLE. McClarren Financial Advisors Inc. raised its position in shares of Allegion by 61.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 72 shares during the period. Greenwich Wealth Management LLC increased its position in Allegion by 0.5% in the second quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock worth $1,761,000 after buying an additional 79 shares during the period. Thrive Wealth Management LLC lifted its stake in Allegion by 5.0% in the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock valued at $269,000 after buying an additional 88 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Allegion by 3.6% during the second quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company’s stock valued at $310,000 after acquiring an additional 92 shares during the period. Finally, Cromwell Holdings LLC grew its position in shares of Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 92 shares during the last quarter. 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.