Mizuho Raises Allegion (NYSE:ALLE) Price Target to $150.00

Allegion (NYSE:ALLE) had its price objective increased by Mizuho from $135.00 to $150.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the scientific and technical instruments company’s stock.

Several other research firms also recently weighed in on ALLE. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Wells Fargo & Company lifted their price objective on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Barclays upped their target price on shares of Allegion from $117.00 to $135.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $142.25.

Allegion Price Performance

ALLE stock opened at $153.36 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. Allegion has a 12 month low of $95.94 and a 12 month high of $156.10. The stock has a market cap of $13.41 billion, a PE ratio of 25.02, a P/E/G ratio of 4.50 and a beta of 1.12. The company has a 50-day moving average price of $140.59 and a 200 day moving average price of $129.58.

Allegion (NYSE:ALLE) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm had revenue of $965.60 million for the quarter, compared to analysts’ expectations of $953.63 million. During the same quarter in the prior year, the firm posted $1.76 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts anticipate that Allegion will post 7.26 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s dividend payout ratio (DPR) is 31.32%.

Institutional Investors Weigh In On Allegion

Hedge funds have recently modified their holdings of the business. Norden Group LLC bought a new position in Allegion in the first quarter worth approximately $2,271,000. BNP Paribas Financial Markets boosted its position in Allegion by 90.7% during the first quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock valued at $16,380,000 after purchasing an additional 57,832 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Allegion by 5.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company’s stock valued at $29,074,000 after purchasing an additional 10,896 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Allegion by 22.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 105,089 shares of the scientific and technical instruments company’s stock worth $14,157,000 after purchasing an additional 19,570 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Allegion during the second quarter valued at about $3,762,000. 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.