Barclays Cuts Allegion (NYSE:ALLE) Price Target to $130.00

Allegion (NYSE:ALLE) had its price objective cut by Barclays from $134.00 to $130.00 in a report published on Wednesday morning,Benzinga reports. They currently have an underweight rating on the scientific and technical instruments company’s stock.

ALLE has been the subject of a number of other research reports. Robert W. Baird lowered their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday. Wells Fargo & Company cut their price objective on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Morgan Stanley assumed coverage on shares of Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price target on the stock. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $138.33.

Allegion Stock Up 0.0 %

ALLE opened at $127.16 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The business’s fifty day simple moving average is $131.32 and its 200 day simple moving average is $137.24. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10. The stock has a market cap of $10.97 billion, a PE ratio of 18.64, a P/E/G ratio of 3.99 and a beta of 1.11.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. As a group, research analysts expect that Allegion will post 7.7 earnings per share for the current fiscal year.

Allegion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s payout ratio is 28.15%.

Insider Buying and Selling

In related news, Director Gregg C. Sengstack purchased 8,000 shares of Allegion stock in a transaction dated Wednesday, February 19th. The stock was purchased at an average cost of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at $1,001,920. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John H. Stone purchased 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, for a total transaction of $1,055,250.00. Following the purchase, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp increased its position in shares of Allegion by 270.6% during the fourth quarter. Mackenzie Financial Corp now owns 10,346 shares of the scientific and technical instruments company’s stock valued at $1,352,000 after acquiring an additional 7,554 shares in the last quarter. Amiral Gestion bought a new stake in shares of Allegion in the 4th quarter worth $2,125,000. Waverly Advisors LLC purchased a new position in shares of Allegion in the fourth quarter worth $200,000. Woodline Partners LP bought a new position in shares of Allegion during the fourth quarter valued at $7,896,000. Finally, Sone Capital Management LLC purchased a new stake in shares of Allegion during the fourth quarter valued at $498,000. 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.