Allegion’s (ALLE) Buy (B) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their buy (b) rating on shares of Allegion (NYSE:ALLE) in a research report report published on Friday,Weiss Ratings reports.

A number of other analysts have also issued reports on ALLE. Robert W. Baird raised their target price on shares of Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group raised their target price on shares of Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Bank of America upgraded shares of Allegion from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th. Mizuho raised their target price on shares of Allegion from $145.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company raised their target price on shares of Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $176.38.

Allegion Price Performance

Shares of NYSE:ALLE opened at $167.37 on Friday. The business’s fifty day moving average price is $173.98 and its two-hundred day moving average price is $155.11. The stock has a market cap of $14.40 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 3.61 and a beta of 1.07. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.77. Allegion has a one year low of $116.57 and a one year high of $180.68.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. Allegion had a net margin of 16.09% and a return on equity of 40.83%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business earned $2.16 earnings per share. Allegion’s revenue was up 10.7% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. On average, analysts forecast that Allegion will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $0.51 per share. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 1.2%. Allegion’s payout ratio is presently 27.60%.

Insider Buying and Selling at Allegion

In related news, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the sale, the senior vice president owned 30,023 shares of the company’s stock, valued at $4,946,589.48. The trade was a 26.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Allegion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALLE. GAMMA Investing LLC increased its stake in Allegion by 199.2% during the 1st quarter. GAMMA Investing LLC now owns 1,508 shares of the scientific and technical instruments company’s stock worth $197,000 after buying an additional 1,004 shares during the period. Blue Trust Inc. increased its stake in Allegion by 61.9% during the 1st quarter. Blue Trust Inc. now owns 539 shares of the scientific and technical instruments company’s stock worth $70,000 after buying an additional 206 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Allegion by 6.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,243 shares of the scientific and technical instruments company’s stock worth $554,000 after buying an additional 250 shares during the period. Oppenheimer & Co. Inc. increased its stake in Allegion by 21.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 15,557 shares of the scientific and technical instruments company’s stock worth $2,030,000 after buying an additional 2,792 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in Allegion by 10.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 37,648 shares of the scientific and technical instruments company’s stock worth $4,912,000 after buying an additional 3,618 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.