Allegion (NYSE:ALLE) Given New $126.00 Price Target at Barclays

Allegion (NYSE:ALLE) had its price target trimmed by Barclays from $130.00 to $126.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the scientific and technical instruments company’s stock.

A number of other research analysts have also weighed in on the company. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley raised their price objective on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Robert W. Baird reduced their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price target on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $137.67.

Allegion Stock Performance

Shares of ALLE stock opened at $130.44 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The firm has a fifty day simple moving average of $129.70 and a two-hundred day simple moving average of $136.34. Allegion has a 12 month low of $113.27 and a 12 month high of $156.10. The firm has a market capitalization of $11.26 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE) last posted its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The company had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. Analysts forecast that Allegion will post 7.77 EPS 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 paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.56%. This is a boost from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s payout ratio is presently 29.91%.

Insider Buying and Selling

In other news, Director Gregg C. Sengstack acquired 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the purchase, the director now owns 8,000 shares in the company, valued at approximately $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the transaction, the senior vice president now directly owns 10,273 shares of the company’s stock, valued at approximately $1,302,000.02. This trade represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Allegion

Several institutional investors have recently added to or reduced their stakes in the business. Fiduciary Management Inc. WI bought a new stake in shares of Allegion in the fourth quarter valued at approximately $116,484,000. Norges Bank purchased a new position in Allegion in the 4th quarter valued at approximately $108,058,000. Lord Abbett & CO. LLC raised its holdings in Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after acquiring an additional 823,874 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Allegion during the fourth quarter worth $65,175,000. Finally, Boston Partners boosted its holdings in shares of Allegion by 11.6% in the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock worth $616,503,000 after acquiring an additional 488,390 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.