Allegion (NYSE:ALLE – Free 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 %
Allegion (NYSE:ALLE – Get 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
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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