Allegion plc (NYSE:ALLE) Receives Consensus Rating of “Reduce” from Analysts

Shares of Allegion plc (NYSE:ALLE) have received a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $144.60.

Several equities research analysts recently issued reports on ALLE shares. Mizuho boosted their target price on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays boosted their price objective on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. Wells Fargo & Company increased their target price on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Robert W. Baird boosted their price target on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th.

Allegion Trading Up 0.7 %

Shares of ALLE opened at $133.04 on Wednesday. Allegion has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The company has a market capitalization of $11.57 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 3.35 and a beta of 1.10. The stock has a fifty day moving average of $141.48 and a two-hundred day moving average of $134.74. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The firm had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. During the same period in the prior year, the firm posted $1.94 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts forecast that Allegion will post 7.41 EPS for the current year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a yield of 1.44%. Allegion’s dividend payout ratio (DPR) is 29.49%.

Insider Activity at Allegion

In related news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the sale, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John H. Stone acquired 7,500 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now directly 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 owned by insiders.

Institutional Trading of Allegion

Hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. increased its holdings in Allegion by 5.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,807 shares of the scientific and technical instruments company’s stock worth $568,000 after purchasing an additional 265 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Allegion by 54.0% in the second quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after buying an additional 121 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Allegion by 39.0% in the second quarter. First Horizon Advisors Inc. now owns 435 shares of the scientific and technical instruments company’s stock valued at $51,000 after acquiring an additional 122 shares in the last quarter. &PARTNERS bought a new position in Allegion during the 2nd quarter valued at $564,000. Finally, Herold Advisors Inc. grew its holdings in Allegion by 11.2% during the 2nd quarter. Herold Advisors Inc. now owns 9,001 shares of the scientific and technical instruments company’s stock worth $1,063,000 after acquiring an additional 909 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.