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

Shares of Allegion plc (NYSE:ALLE) have been assigned a consensus rating of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $140.83.

A number of research analysts recently issued reports on ALLE shares. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Morgan Stanley initiated coverage on shares of Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price target for the company. Mizuho raised their price objective 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. Wells Fargo & Company dropped their target price on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Barclays decreased their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th.

Insider Activity

In other Allegion news, CEO John H. Stone purchased 7,500 shares of Allegion stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the transaction, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

Institutional investors have recently bought and sold shares of the business. McClarren Financial Advisors Inc. increased its position 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 valued at $27,000 after purchasing an additional 72 shares during the last quarter. Brooklyn Investment Group purchased a new position in Allegion during the third quarter worth $28,000. Concord Wealth Partners bought a new position in Allegion during the third quarter valued at $29,000. Cromwell Holdings LLC raised its stake 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 acquiring an additional 92 shares during the period. Finally, Private Trust Co. NA lifted its holdings in shares of Allegion by 56.1% in the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock worth $42,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

NYSE ALLE opened at $129.10 on Thursday. The business’s fifty day moving average is $133.64 and its 200 day moving average is $137.48. Allegion has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The company has a market capitalization of $11.22 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, December 17th. Allegion’s payout ratio is currently 29.49%.

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.