Allegion plc (NYSE:ALLE) Given Consensus Rating of “Reduce” by Analysts

Allegion plc (NYSE:ALLE) has been given a consensus rating of “Reduce” by the five ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $144.60.

Several brokerages have recently weighed in on ALLE. Robert W. Baird boosted their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Barclays lifted their target price on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Wells Fargo & Company raised their price objective on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Finally, Mizuho lifted their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th.

Insider Activity at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the transaction, the senior vice president now directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd grew its holdings in shares of Allegion by 255.7% in the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after acquiring an additional 225 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Allegion by 16.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,163 shares of the scientific and technical instruments company’s stock valued at $830,000 after acquiring an additional 853 shares during the period. Toronto Dominion Bank lifted its stake in shares of Allegion by 1.9% during the first quarter. Toronto Dominion Bank now owns 55,108 shares of the scientific and technical instruments company’s stock worth $7,424,000 after purchasing an additional 1,044 shares in the last quarter. LRI Investments LLC purchased a new position in Allegion in the 1st quarter worth approximately $161,000. Finally, Magnetar Financial LLC purchased a new stake in Allegion during the 1st quarter worth $960,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

Shares of Allegion stock opened at $141.39 on Friday. The firm has a market cap of $12.29 billion, a PE ratio of 21.72, a P/E/G ratio of 3.30 and a beta of 1.11. Allegion has a twelve month low of $103.19 and a twelve month high of $156.10. 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 business has a 50-day moving average price of $144.01 and a 200 day moving average price of $132.14.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping 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 business had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. During the same period in the prior year, the company posted $1.94 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts predict that Allegion will post 7.41 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s dividend payout ratio (DPR) is presently 29.49%.

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.