Allegion (NYSE:ALLE) Raised to Buy at StockNews.com

Allegion (NYSE:ALLE) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Other equities research analysts have also issued reports about the company. Robert W. Baird raised their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Wells Fargo & Company dropped their price objective on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Mizuho increased their target price on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley started coverage on shares of Allegion in a research note on Monday, January 6th. They set an “equal weight” rating and a $137.00 price target for the company. Finally, Barclays decreased their price objective on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $140.83.

Allegion Stock Performance

Shares of NYSE:ALLE opened at $128.64 on Thursday. The firm has a fifty day simple moving average of $133.40 and a two-hundred day simple moving average of $137.42. 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 stock has a market capitalization of $11.18 billion, a P/E ratio of 19.76, a PEG ratio of 3.28 and a beta of 1.11. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10.

Insider Transactions at Allegion

In related news, CEO John H. Stone acquired 7,500 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the purchase, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLE. Creative Planning raised its stake in shares of Allegion by 5.8% in the second quarter. Creative Planning now owns 10,877 shares of the scientific and technical instruments company’s stock worth $1,285,000 after purchasing an additional 593 shares during the last quarter. Cetera Investment Advisers raised its position in Allegion by 5.3% during the 2nd quarter. Cetera Investment Advisers now owns 13,788 shares of the scientific and technical instruments company’s stock worth $1,629,000 after buying an additional 697 shares during the last quarter. Czech National Bank boosted its holdings in shares of Allegion by 6.5% in the 3rd quarter. Czech National Bank now owns 17,748 shares of the scientific and technical instruments company’s stock valued at $2,587,000 after acquiring an additional 1,085 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Allegion by 66.2% in the 3rd quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock valued at $47,000 after acquiring an additional 129 shares during the last quarter. Finally, Fulton Bank N.A. acquired a new stake in shares of Allegion in the third quarter worth $216,000. 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.