Allegion plc (NYSE:ALLE) Given Average Rating of “Reduce” by Analysts

Shares of Allegion plc (NYSE:ALLE) have been given a consensus recommendation of “Reduce” by the five ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $144.60.

ALLE has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Barclays increased their price target on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Mizuho boosted their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Robert W. Baird increased their target price on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th.

Insider Activity

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction on Friday, October 25th. The stock was sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the transaction, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John H. Stone bought 7,500 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was purchased at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ALLE. State Street Corp lifted its position in Allegion by 1.2% during the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after buying an additional 49,929 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Allegion by 2.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock worth $442,019,000 after purchasing an additional 91,011 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Allegion by 1.3% during the third quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock valued at $479,577,000 after purchasing an additional 39,905 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Allegion by 0.4% in the third quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock valued at $306,699,000 after purchasing an additional 8,023 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Allegion by 13.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock worth $277,581,000 after purchasing an additional 232,395 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

NYSE:ALLE opened at $136.65 on Wednesday. The firm has a market capitalization of $11.88 billion, a PE ratio of 20.99, a PEG ratio of 3.35 and a beta of 1.10. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The firm’s fifty day simple moving average is $142.87 and its 200 day simple moving average is $134.26.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. During the same period last year, the business posted $1.94 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Allegion will post 7.41 EPS for the current year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, December 17th. Allegion’s dividend payout ratio is 29.49%.

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.