Barclays Cuts Allegion (NYSE:ALLE) Price Target to $134.00

Allegion (NYSE:ALLEFree Report) had its price objective trimmed by Barclays from $137.00 to $134.00 in a research report report published on Wednesday,Benzinga reports. They currently have an underweight rating on the scientific and technical instruments company’s stock.

A number of other brokerages have also recently issued reports on ALLE. Robert W. Baird increased their target price on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Mizuho upped their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley began coverage on shares of Allegion in a research note on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price for the company. Finally, Wells Fargo & Company decreased their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $140.83.

Check Out Our Latest Stock Report on ALLE

Allegion Stock Down 1.7 %

NYSE ALLE opened at $126.19 on Wednesday. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 3.35 and a beta of 1.11. The stock’s 50 day moving average is $136.94 and its two-hundred day moving average is $135.75. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLEGet Free Report) last announced its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same quarter in the previous year, the firm earned $1.94 EPS. Allegion’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that Allegion will post 7.41 earnings per share for the current fiscal year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.92 annualized dividend and a dividend yield of 1.52%. Allegion’s dividend payout ratio (DPR) is currently 29.49%.

Insider Activity at Allegion

In other Allegion news, CEO John H. Stone bought 7,500 shares of Allegion stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, with a total value 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 trade represents a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the sale, the senior vice president now owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALLE. Public Employees Retirement System of Ohio bought a new stake in Allegion in the third quarter valued at about $4,988,000. Renaissance Technologies LLC bought a new stake in shares of Allegion in the 2nd quarter valued at about $27,056,000. Andra AP fonden acquired a new stake in shares of Allegion in the 2nd quarter valued at approximately $10,704,000. Qsemble Capital Management LP bought a new position in Allegion during the 3rd quarter worth approximately $891,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Allegion by 4.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock valued at $1,260,000 after purchasing an additional 340 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Company Profile

(Get Free Report)

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.

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