Allegion (NYSE:ALLE) Price Target Raised to $181.00

Allegion (NYSE:ALLE) had its target price increased by analysts at Morgan Stanley from $170.00 to $181.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Morgan Stanley‘s target price suggests a potential downside of 4.50% from the stock’s current price.

Several other analysts have also recently commented on the company. The Goldman Sachs Group boosted their price target on Allegion from $182.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. Weiss Ratings raised shares of Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Evercore reaffirmed an “outperform” rating and set a $180.00 target price on shares of Allegion in a report on Tuesday, September 22nd. Robert W. Baird set a $196.00 target price on shares of Allegion in a research report on Friday, October 23rd. Finally, Mizuho set a $180.00 price target on shares of Allegion in a research note on Friday, October 23rd. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $180.70.

Allegion Price Performance

ALLE stock traded down $2.19 during trading on Tuesday, hitting $189.54. The stock had a trading volume of 383,210 shares, compared to its average volume of 1,106,815. Allegion has a twelve month low of $125.00 and a twelve month high of $192.48. The company’s 50-day moving average price is $159.09 and its two-hundred day moving average price is $150.96. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24. The stock has a market capitalization of $15.98 billion, a P/E ratio of 23.60, a PEG ratio of 2.04 and a beta of 0.81.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.10. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Allegion had a return on equity of 35.52% and a net margin of 15.74%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.30 earnings per share. As a group, research analysts predict that Allegion will post 9.10 EPS for the current fiscal year.

Insider Activity

In related news, SVP Tracy L. Kemp sold 4,469 shares of the firm’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $178.81, for a total transaction of $799,101.89. Following the completion of the sale, the senior vice president directly owned 11,358 shares in the company, valued at approximately $2,030,923.98. This trade represents a 28.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vincent Wenos sold 1,000 shares of Allegion stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $168.25, for a total transaction of $168,250.00. Following the transaction, the senior vice president directly owned 12,096 shares in the company, valued at $2,035,152. This trade represents a 7.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 11,833 shares of company stock worth $2,104,090. 0.64% of the stock is owned by insiders.

Institutional Trading of Allegion

Several institutional investors have recently made changes to their positions in ALLE. International Assets Investment Management LLC lifted its holdings in Allegion by 30,063.6% in the third quarter. International Assets Investment Management LLC now owns 869,012 shares of the scientific and technical instruments company’s stock valued at $133,628,000 after acquiring an additional 866,131 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Allegion by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company’s stock worth $123,952,000 after acquiring an additional 13,186 shares during the last quarter. Hawk Ridge Capital Management LP increased its stake in Allegion by 32.9% during the first quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock worth $116,640,000 after acquiring an additional 198,800 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Allegion by 19.4% in the first quarter. The Manufacturers Life Insurance Company now owns 599,326 shares of the scientific and technical instruments company’s stock valued at $87,076,000 after purchasing an additional 97,304 shares during the period. Finally, Bank of America Corp DE raised its position in Allegion by 5.5% in the first quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company’s stock valued at $78,766,000 after purchasing an additional 28,449 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Company Profile

Allegion plc (NYSE:ALLE) is a global security products and solutions company focused on protecting people and property. Its portfolio includes mechanical and electronic locks, access control systems, door closers, exit devices, door controls, and commercial doors and frames.

The company serves commercial, institutional, industrial, and residential customers through well-known brands including Schlage, Von Duprin, LCN, Steelcraft, Briton, and aptiQ. Its offerings range from traditional hardware to connected and electronic access solutions designed for offices, schools, healthcare facilities, multifamily properties, and homes.

Allegion was established as an independent public company in 2013 following its separation from Ingersoll Rand.