Allegion (NYSE:ALLE) Upgraded by StockNews.com to Buy Rating

Allegion (NYSE:ALLE) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

ALLE has been the topic of a number of other research reports. Morgan Stanley boosted their price target on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Robert W. Baird cut their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Barclays lowered their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $138.33.

Allegion Price Performance

Shares of ALLE traded up $2.08 during trading hours on Tuesday, hitting $130.01. 968,082 shares of the company were exchanged, compared to its average volume of 892,530. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. The company has a market capitalization of $11.22 billion, a PE ratio of 19.06, a PEG ratio of 3.97 and a beta of 1.11. The firm has a fifty day simple moving average of $130.90 and a 200-day simple moving average of $137.37. Allegion has a one year low of $113.27 and a one year high of $156.10.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The business had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. As a group, sell-side analysts predict that Allegion will post 7.77 earnings per share for the current year.

Insider Activity

In other Allegion news, CEO John H. Stone bought 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, for a total transaction of $1,055,250.00. Following the completion of the purchase, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Nickolas A. Musial sold 403 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the sale, the chief accounting officer now owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This trade represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allegion

Institutional investors have recently modified their holdings of the company. TD Private Client Wealth LLC boosted its holdings in shares of Allegion by 0.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock worth $2,871,000 after buying an additional 77 shares during the period. Douglass Winthrop Advisors LLC lifted its position in Allegion by 0.4% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company’s stock worth $2,911,000 after acquiring an additional 80 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in Allegion by 2.9% during 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 acquiring an additional 82 shares during the period. Heritage Family Offices LLP grew its position 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 stake 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 worth $938,000 after purchasing an additional 83 shares during the period. 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.