StockNews.com cut shares of Allegion (NYSE:ALLE – Free Report) from a buy rating to a hold rating in a research report released on Tuesday morning.
ALLE has been the topic of several other reports. Robert W. Baird upped their target price on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Wells Fargo & Company dropped their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Barclays reduced their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley began coverage on Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price on the stock. Finally, Mizuho raised their price target on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $140.83.
Check Out Our Latest Report on ALLE
Allegion Trading Up 1.3 %
Allegion (NYSE:ALLE – Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. Allegion’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $1.94 EPS. On average, research analysts anticipate that Allegion will post 7.42 EPS for the current fiscal year.
Allegion Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, December 17th. Allegion’s dividend payout ratio (DPR) is 29.49%.
Insider Activity at Allegion
In other news, CEO John H. Stone bought 7,500 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the purchase, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.
Institutional Trading of Allegion
Several institutional investors have recently bought and sold shares of the business. McClarren Financial Advisors Inc. raised its stake in shares of Allegion by 61.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 72 shares during the period. Brooklyn Investment Group acquired a new position in Allegion during the third quarter worth $28,000. Concord Wealth Partners purchased a new position in Allegion during the third quarter valued at $29,000. Cromwell Holdings LLC grew its position in shares of Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 92 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in shares of Allegion during the second quarter worth about $39,000. 92.21% of the stock is owned by institutional investors and hedge funds.
Allegion Company Profile
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.
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