Allegion plc (NYSE:ALLE) Given Average Rating of “Moderate Buy” by Analysts

Allegion plc (NYSE:ALLE) has earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $121.14.

Several research firms have recently weighed in on ALLE. Vertical Research cut shares of Allegion from a “buy” rating to a “hold” rating and reduced their price target for the company from $128.00 to $100.00 in a report on Thursday, October 19th. Wells Fargo & Company reduced their price target on shares of Allegion from $130.00 to $120.00 in a report on Monday, October 9th. Robert W. Baird increased their target price on shares of Allegion from $126.00 to $132.00 in a report on Thursday, July 27th. Longbow Research cut shares of Allegion from a “buy” rating to a “neutral” rating in a report on Wednesday, September 6th. Finally, StockNews.com started coverage on shares of Allegion in a report on Thursday, October 5th. They set a “hold” rating for the company.

Allegion Stock Down 0.6 %

Shares of NYSE:ALLE opened at $105.74 on Tuesday. Allegion has a 52 week low of $95.94 and a 52 week high of $128.36. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.31 and a current ratio of 2.03. The company has a market capitalization of $9.28 billion, a PE ratio of 16.76, a PEG ratio of 2.63 and a beta of 1.13. The company has a 50 day moving average price of $102.72 and a two-hundred day moving average price of $109.77.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.21. The company had revenue of $917.90 million during the quarter, compared to analysts’ expectations of $908.93 million. Allegion had a net margin of 15.41% and a return on equity of 55.71%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 earnings per share. Analysts forecast that Allegion will post 6.85 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Friday, September 15th. Allegion’s dividend payout ratio is currently 28.53%.

Institutional Trading of Allegion

A number of large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in shares of Allegion by 147.4% in the second quarter. Van ECK Associates Corp now owns 2,305,995 shares of the scientific and technical instruments company’s stock valued at $276,766,000 after purchasing an additional 1,373,811 shares during the period. BlackRock Inc. raised its position in shares of Allegion by 15.8% in the first quarter. BlackRock Inc. now owns 8,631,077 shares of the scientific and technical instruments company’s stock valued at $921,195,000 after purchasing an additional 1,176,087 shares during the period. Boston Partners raised its position in shares of Allegion by 17.2% in the third quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company’s stock valued at $584,157,000 after purchasing an additional 825,048 shares during the period. Norges Bank bought a new position in shares of Allegion in the fourth quarter valued at about $76,640,000. Finally, Hawk Ridge Capital Management LP bought a new position in shares of Allegion in the third quarter valued at about $53,142,000. 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.