Allegion (NYSE:ALLE) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Allegion (NYSE:ALLE) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

ALLE has been the topic of a number of other research reports. Morgan Stanley increased their price objective on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Robert W. Baird decreased their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company decreased their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Finally, Barclays decreased their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Allegion currently has an average rating of “Hold” and an average price target of $138.33.

Allegion Stock Up 1.6 %

ALLE opened at $130.01 on Tuesday. The firm’s 50-day simple moving average is $130.90 and its 200-day simple moving average is $137.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The firm had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Equities research analysts anticipate that Allegion will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, March 14th. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is 28.15%.

Insider Activity

In related news, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the sale, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. This trade represents a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregg C. Sengstack purchased 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was purchased at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at $1,001,920. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Allegion by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company’s stock valued at $1,400,688,000 after acquiring an additional 177,808 shares during the period. Boston Partners raised its holdings in Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock worth $616,503,000 after buying an additional 488,390 shares during the period. State Street Corp raised its holdings in Allegion by 1.2% during the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after buying an additional 49,929 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Allegion by 1.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company’s stock worth $509,313,000 after buying an additional 38,377 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Allegion by 8.1% during the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after buying an additional 257,175 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About Allegion

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.