Allegion plc (NYSE:ALLE) Given Consensus Recommendation of “Reduce” by Brokerages

Allegion plc (NYSE:ALLE) has received an average rating of “Reduce” from the six brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $137.67.

Several research analysts have weighed in on ALLE shares. Barclays reduced their target price on Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a report on Wednesday. Robert W. Baird decreased their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley upped their price target on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th.

Insider Activity at Allegion

In other news, SVP David S. Ilardi sold 789 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the sale, the senior vice president now owns 9,625 shares in the company, valued at $1,205,820. This represents a 7.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the transaction, the senior vice president now directly owns 10,273 shares of the company’s stock, valued at $1,302,000.02. This represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,224 shares of company stock valued at $406,636. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Allegion

Institutional investors and hedge funds have recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Allegion during the 3rd quarter worth approximately $28,000. Millstone Evans Group LLC acquired a new position in shares of Allegion in the fourth quarter valued at $28,000. Colonial Trust Co SC lifted its stake in shares of Allegion by 192.9% during the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 164 shares during the last quarter. Atala Financial Inc bought a new position in Allegion in the 4th quarter valued at about $35,000. Finally, GeoWealth Management LLC lifted its position in Allegion by 259.3% during the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company’s stock worth $40,000 after acquiring an additional 223 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Allegion Price Performance

Allegion stock opened at $130.21 on Friday. The firm has a market capitalization of $11.24 billion, a P/E ratio of 19.09, a PEG ratio of 3.97 and a beta of 1.11. The business has a 50-day moving average of $129.65 and a 200-day moving average of $136.29. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The firm had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. On average, equities analysts anticipate that Allegion will post 7.77 EPS for the current year.

Allegion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is a boost from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 1.57%. Allegion’s dividend payout ratio is presently 29.91%.

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.