Allegion (NYSE:ALLE) Price Target Raised to $132.00 at UBS Group

Allegion (NYSE:ALLE) had its price objective upped by UBS Group from $113.00 to $132.00 in a research report released on Tuesday morning, Benzinga reports. UBS Group currently has a neutral rating on the scientific and technical instruments company’s stock.

Several other brokerages also recently weighed in on ALLE. StockNews.com upgraded Allegion from a hold rating to a buy rating in a report on Wednesday, April 10th. Barclays raised their price objective on Allegion from $121.00 to $122.00 and gave the stock an equal weight rating in a report on Tuesday, April 2nd. Wells Fargo & Company downgraded Allegion from an overweight rating to an equal weight rating and raised their price objective for the stock from $139.00 to $140.00 in a report on Wednesday, February 21st. Finally, Mizuho downgraded Allegion from a buy rating to a neutral rating and raised their price objective for the stock from $140.00 to $141.00 in a report on Friday, February 23rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $127.83.

Allegion Trading Down 0.4 %

Shares of NYSE ALLE opened at $126.39 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.85 and a current ratio of 1.26. The business’s 50 day moving average price is $131.05 and its 200-day moving average price is $118.49. Allegion has a fifty-two week low of $95.94 and a fifty-two week high of $136.91. The company has a market cap of $11.07 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 4.59 and a beta of 1.14.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. Allegion had a return on equity of 51.95% and a net margin of 14.80%. The firm had revenue of $897.40 million for the quarter, compared to the consensus estimate of $904.17 million. During the same period in the prior year, the business posted $1.60 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Allegion will post 7.01 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.92 annualized dividend and a yield of 1.52%. Allegion’s dividend payout ratio (DPR) is presently 31.37%.

Insider Buying and Selling at Allegion

In related news, CEO John H. Stone bought 10,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were acquired at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the transaction, the chief executive officer now owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Allegion news, SVP Robert C. Martens sold 5,391 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total transaction of $716,140.44. Following the sale, the senior vice president now owns 7,555 shares of the company’s stock, valued at approximately $1,003,606.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John H. Stone acquired 10,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average cost of $132.41 per share, with a total value of $1,324,100.00. Following the transaction, the chief executive officer now directly owns 104,248 shares in the company, valued at $13,803,477.68. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

Institutional Trading of Allegion

A number of institutional investors have recently made changes to their positions in ALLE. BlackRock Inc. lifted its position in Allegion by 15.8% during the 1st quarter. BlackRock Inc. now owns 8,631,077 shares of the scientific and technical instruments company’s stock worth $921,195,000 after acquiring an additional 1,176,087 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Allegion during the 4th quarter worth about $120,959,000. Norges Bank acquired a new stake in Allegion during the 4th quarter worth about $110,740,000. Boston Partners lifted its position in Allegion by 17.2% during the 3rd quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company’s stock worth $584,157,000 after acquiring an additional 825,048 shares during the period. Finally, APG Asset Management US Inc. acquired a new stake in Allegion during the 4th quarter worth about $66,449,000. Institutional investors and hedge funds 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.