Morgan Stanley Initiates Coverage on Allegion (NYSE:ALLE)

Investment analysts at Morgan Stanley assumed coverage on shares of Allegion (NYSE:ALLE) in a research note issued on Monday,Briefing.com Automated Import reports. The firm set an “equal weight” rating and a $137.00 price target on the scientific and technical instruments company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 5.24% from the stock’s current price.

ALLE has been the topic of a number of other research reports. Mizuho lifted their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird boosted their price target on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Barclays upped their price target on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company boosted their target price on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Allegion has a consensus rating of “Hold” and a consensus target price of $143.33.

Allegion Stock Up 1.2 %

Shares of NYSE ALLE opened at $130.18 on Monday. The firm has a market cap of $11.32 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10. The firm’s 50 day moving average price is $138.17 and its 200 day moving average price is $135.49.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. The company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.94 EPS. As a group, sell-side analysts anticipate that Allegion will post 7.41 earnings per share for the current year.

Insider Transactions at Allegion

In other news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the sale, the senior vice president now owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John H. Stone acquired 7,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Allegion

Institutional investors and hedge funds have recently made changes to their positions in the company. McClarren Financial Advisors Inc. boosted its holdings in shares of Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 72 shares during the period. Brooklyn Investment Group bought a new position in Allegion in the third quarter worth about $28,000. Concord Wealth Partners acquired a new position in Allegion in the third quarter valued at approximately $29,000. Cromwell Holdings LLC grew its holdings 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 valued at $34,000 after purchasing an additional 92 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in shares of Allegion during the 2nd quarter worth approximately $39,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.