Wells Fargo & Company Has Lowered Expectations for Allegion (NYSE:ALLE) Stock Price

Allegion (NYSE:ALLE) had its price target lowered by analysts at Wells Fargo & Company from $152.00 to $140.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 9.01% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. Barclays upped their price objective on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Morgan Stanley began coverage on Allegion in a research report on Monday. They set an “equal weight” rating and a $137.00 price objective on the stock. Mizuho upped their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird upped their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Allegion has an average rating of “Hold” and an average target price of $140.83.

Allegion Price Performance

NYSE:ALLE opened at $128.43 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $11.16 billion, a P/E ratio of 19.73, a P/E/G ratio of 3.35 and a beta of 1.11. Allegion has a 12 month low of $113.27 and a 12 month high of $156.10. The business’s 50-day moving average is $137.65 and its 200 day moving average is $135.80.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS 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 the consensus estimate of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.94 earnings per share. On average, equities research analysts forecast that Allegion will post 7.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the transaction, the senior vice president now owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John H. Stone acquired 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the purchase, the chief executive officer now owns 120,481 shares of the company’s stock, 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. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. McClarren Financial Advisors Inc. boosted its position in 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 valued at $27,000 after acquiring an additional 72 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Allegion by 0.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock valued at $2,871,000 after acquiring an additional 77 shares in the last quarter. Greenwich Wealth Management LLC boosted its position in Allegion by 0.5% during the 2nd quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock valued at $1,761,000 after acquiring an additional 79 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in Allegion by 2.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock valued at $425,000 after acquiring an additional 82 shares in the last quarter. Finally, Thrive Wealth Management LLC boosted its position in Allegion by 5.0% during the 3rd quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock valued at $269,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

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.