Allegion (NYSE:ALLE) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Allegion (NYSE:ALLE) had its price target increased by The Goldman Sachs Group from $176.00 to $198.00 in a research report sent to investors on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the scientific and technical instruments company’s stock.

Other research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. initiated coverage on shares of Allegion in a report on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 price target for the company. Mizuho raised their price target on shares of Allegion from $145.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Barclays raised shares of Allegion from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $156.00 to $163.00 in a report on Thursday, August 14th. Finally, Bank of America upgraded shares of Allegion from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $170.25.

Allegion Trading Up 1.2%

NYSE ALLE opened at $178.76 on Tuesday. The company has a fifty day simple moving average of $165.75 and a two-hundred day simple moving average of $145.94. The stock has a market cap of $15.35 billion, a P/E ratio of 24.83, a P/E/G ratio of 3.80 and a beta of 1.07. Allegion has a 12-month low of $116.57 and a 12-month high of $179.92. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, analysts forecast that Allegion will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.1%. Allegion’s payout ratio is currently 28.33%.

Insider Transactions at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction of $634,777.08. Following the completion of the sale, the senior vice president owned 8,773 shares of the company’s stock, valued at $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy P. Eckersley sold 10,810 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the sale, the senior vice president directly owned 30,023 shares of the company’s stock, valued at $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Institutional Trading of Allegion

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Focus Partners Wealth purchased a new stake in Allegion during the 4th quarter valued at about $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Allegion by 5.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,966 shares of the scientific and technical instruments company’s stock valued at $1,172,000 after acquiring an additional 434 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Allegion during the 4th quarter valued at about $375,000. ProShare Advisors LLC grew its stake in Allegion by 55.0% during the 4th quarter. ProShare Advisors LLC now owns 23,081 shares of the scientific and technical instruments company’s stock valued at $3,016,000 after acquiring an additional 8,191 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Allegion by 11.1% during the 4th quarter. Rafferty Asset Management LLC now owns 8,117 shares of the scientific and technical instruments company’s stock valued at $1,061,000 after acquiring an additional 811 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.