Allegion (NYSE:ALLE) Given New $130.00 Price Target at Barclays

Allegion (NYSE:ALLE) had its price objective decreased by Barclays from $134.00 to $130.00 in a report issued on Wednesday,Benzinga reports. Barclays currently has an underweight rating on the scientific and technical instruments company’s stock.

Several other brokerages have also recently commented on ALLE. Wells Fargo & Company lowered their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird decreased their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday. Morgan Stanley started coverage on shares of Allegion in a research note on Monday, January 6th. They set an “equal weight” rating and a $137.00 price target on the stock. Finally, StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $138.33.

Allegion Stock Up 0.4 %

Allegion stock opened at $126.40 on Wednesday. The firm’s 50 day moving average price is $131.57 and its two-hundred day moving average price is $137.32. The firm has a market cap of $10.99 billion, a PE ratio of 19.42, a P/E/G ratio of 3.29 and a beta of 1.11. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. 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 (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. On average, research analysts predict that Allegion will post 7.42 EPS for the current fiscal year.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s payout ratio is presently 29.49%.

Insider Activity at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John H. Stone acquired 7,500 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price 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. The trade was a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Allegion

Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Allegion during the third quarter valued at about $4,988,000. Qsemble Capital Management LP bought a new position in Allegion during the third quarter valued at about $891,000. Nordea Investment Management AB raised its holdings in Allegion by 4.4% in the 4th quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock valued at $154,643,000 after acquiring an additional 49,176 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Allegion by 4.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock worth $26,724,000 after acquiring an additional 8,806 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Allegion by 4.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock worth $1,260,000 after purchasing an additional 340 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

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.