Allegion (NYSE:ALLE) Price Target Lowered to $135.00 at Wells Fargo & Company

Allegion (NYSE:ALLE) had its target price cut by equities research analysts at Wells Fargo & Company from $140.00 to $135.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 7.20% from the stock’s current price.

Several other equities analysts have also recently weighed in on ALLE. Robert W. Baird decreased their price target on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday. Barclays decreased their price target on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research note on Wednesday. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Morgan Stanley initiated 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 for the company. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Allegion presently has a consensus rating of “Hold” and an average target price of $138.00.

Allegion Stock Performance

Shares of ALLE stock opened at $125.94 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The company has a market capitalization of $10.95 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 3.29 and a beta of 1.11. The company’s 50 day moving average price is $132.14 and its two-hundred day moving average price is $137.42. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10.

Allegion (NYSE:ALLE) last announced its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a net margin of 15.36% and a return on equity of 45.64%. On average, analysts expect that Allegion will post 7.42 earnings per share for the current fiscal year.

Insider Activity at Allegion

In related news, CEO John H. Stone acquired 7,500 shares of Allegion stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. This trade represents a 6.64 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegion

Several institutional investors and hedge funds have recently modified their holdings of the stock. TD Private Client Wealth LLC increased its holdings in shares of Allegion by 0.4% in the third quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock valued at $2,871,000 after purchasing an additional 77 shares during the last quarter. Douglass Winthrop Advisors LLC increased its holdings in shares of Allegion by 0.4% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company’s stock valued at $2,911,000 after purchasing an additional 80 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Allegion by 2.9% in the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock valued at $425,000 after purchasing an additional 82 shares during the last quarter. Heritage Family Offices LLP increased its holdings in shares of Allegion by 3.2% in the fourth quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock valued at $346,000 after purchasing an additional 82 shares during the last quarter. Finally, Waterloo Capital L.P. increased its holdings in shares of Allegion by 1.2% in the fourth quarter. Waterloo Capital L.P. now owns 7,180 shares of the scientific and technical instruments company’s stock valued at $938,000 after purchasing an additional 83 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.