Allegion (NYSE:ALLE) Downgraded to Hold Rating by StockNews.com

Allegion (NYSE:ALLE) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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

Allegion Price Performance

Shares of NYSE ALLE opened at $132.99 on Friday. The firm’s 50 day simple moving average is $132.58 and its 200-day simple moving average is $137.48. Allegion has a 12 month low of $113.27 and a 12 month high of $156.10. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 3.19 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

Insider Transactions at Allegion

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

Institutional Trading of Allegion

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in Allegion during the 3rd quarter worth about $4,988,000. Qsemble Capital Management LP acquired a new stake in shares of Allegion in the 3rd quarter valued at $891,000. Nordea Investment Management AB lifted its position in shares of Allegion by 4.4% during the 4th quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock worth $154,643,000 after purchasing an additional 49,176 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Allegion by 4.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock worth $1,260,000 after purchasing an additional 340 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Allegion by 31.6% during the third quarter. JPMorgan Chase & Co. now owns 801,520 shares of the scientific and technical instruments company’s stock worth $116,814,000 after purchasing an additional 192,609 shares in the last quarter. 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.