StockNews.com Downgrades Allegion (NYSE:ALLE) to Hold

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

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

Allegion Stock Down 2.2 %

ALLE stock opened at $132.08 on Thursday. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The stock has a market cap of $11.48 billion, a P/E ratio of 20.29, a PEG ratio of 3.30 and a beta of 1.11. The business’s 50-day moving average price is $135.56 and its 200-day moving average price is $136.82.

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

Insider Activity at Allegion

In other news, CEO John H. Stone bought 7,500 shares of the stock in a transaction on Tuesday, December 3rd. The stock was acquired 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 of the company’s stock, valued at $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the sale, the senior vice president now owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allegion

Hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in Allegion by 17.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,737 shares of the scientific and technical instruments company’s stock valued at $1,011,000 after buying an additional 1,123 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Allegion by 55.8% in the fourth quarter. Blue Trust Inc. now owns 779 shares of the scientific and technical instruments company’s stock valued at $102,000 after purchasing an additional 279 shares during the period. Beacon Investment Advisory Services Inc. increased its holdings in shares of Allegion by 0.3% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 46,615 shares of the scientific and technical instruments company’s stock valued at $6,092,000 after purchasing an additional 125 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Allegion by 383.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 11,460 shares of the scientific and technical instruments company’s stock valued at $1,497,000 after purchasing an additional 9,090 shares during the period. Finally, Diversify Wealth Management LLC grew its holdings in Allegion by 13.7% during the fourth quarter. Diversify Wealth Management LLC now owns 7,743 shares of the scientific and technical instruments company’s stock worth $977,000 after acquiring an additional 934 shares during the period. 92.21% of the stock is currently 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.