StockNews.com Downgrades Allegion (NYSE:ALLE) to Hold

Allegion (NYSE:ALLE) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other analysts have also issued reports on the company. Barclays lowered their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Mizuho lifted their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley started coverage on Allegion in a research note on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price target on the stock. Finally, Robert W. Baird lifted their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $140.83.

Allegion Stock Down 2.2 %

Shares of ALLE opened at $132.08 on Thursday. 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 has a 12 month low of $113.27 and a 12 month high of $156.10. The stock’s 50 day moving average is $135.56 and its two-hundred day moving average is $136.82. The firm has a market cap of $11.48 billion, a P/E ratio of 20.29, a PEG ratio of 3.30 and a beta of 1.11.

Allegion (NYSE:ALLE) last issued its quarterly earnings data 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 company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same period last year, the company earned $1.94 earnings per share. Allegion’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts predict that Allegion will post 7.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Allegion

In related news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 7,104 shares in the company, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their position. 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 business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Allegion

Several institutional investors and hedge funds have recently modified their holdings of ALLE. Lord Abbett & CO. LLC grew its stake in Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after purchasing an additional 823,874 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Allegion by 397.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock worth $88,450,000 after purchasing an additional 484,995 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Allegion during the 3rd quarter worth $666,840,000. Millennium Management LLC grew its stake in Allegion by 483.1% during the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock worth $60,914,000 after purchasing an additional 427,146 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Allegion by 13.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock worth $277,581,000 after purchasing an additional 232,395 shares in the last quarter. Hedge funds and other 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.