Barclays Cuts Allegion (NYSE:ALLE) Price Target to $134.00

Allegion (NYSE:ALLE) had its price target cut by Barclays from $137.00 to $134.00 in a report released on Wednesday,Benzinga reports. They currently have an underweight rating on the scientific and technical instruments company’s stock.

Other equities research analysts also recently issued research reports about the company. Mizuho increased their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company dropped their price target on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Morgan Stanley initiated coverage on shares of Allegion in a research report on Monday. They set an “equal weight” rating and a $137.00 target price on the stock. Finally, Robert W. Baird upped their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $140.83.

Allegion Stock Up 0.8 %

Shares of Allegion stock opened at $128.43 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The firm has a market cap of $11.16 billion, a P/E ratio of 19.73, a P/E/G ratio of 3.35 and a beta of 1.11. Allegion has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The business has a 50-day moving average price of $137.44 and a 200 day moving average price of $135.75.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.18. The business had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 earnings per share. On average, sell-side analysts forecast that Allegion will post 7.41 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.48 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a yield of 1.49%. Allegion’s dividend payout ratio is 29.49%.

Insider Activity at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the sale, the senior vice president now owns 7,104 shares in the company, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John H. Stone bought 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the transaction, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allegion

Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in Allegion during the 3rd quarter valued at approximately $4,988,000. Renaissance Technologies LLC bought a new position in shares of Allegion during the 2nd quarter valued at about $27,056,000. Andra AP fonden purchased a new stake in shares of Allegion during the 2nd quarter valued at about $10,704,000. Qsemble Capital Management LP purchased a new stake in Allegion in the 3rd quarter worth about $891,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Allegion by 4.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock worth $1,260,000 after purchasing an additional 340 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.