Robert W. Baird Cuts Allegion (NYSE:ALLE) Price Target to $144.00

Allegion (NYSE:ALLE) had its price target lowered by Robert W. Baird from $152.00 to $144.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the scientific and technical instruments company’s stock.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Wells Fargo & Company dropped 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 report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price on the stock. Finally, Barclays cut their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Allegion has a consensus rating of “Hold” and an average price target of $138.33.

Allegion Price Performance

Shares of NYSE:ALLE opened at $127.16 on Wednesday. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 3.99 and a beta of 1.11. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10. The company has a current ratio of 2.04, a quick ratio of 1.29 and a debt-to-equity ratio of 1.32. The business has a fifty day simple moving average of $131.32 and a 200 day simple moving average of $137.24.

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 firm had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. As a group, sell-side analysts predict that Allegion will post 7.7 earnings per share for the current fiscal year.

Allegion Increases Dividend

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

Insiders Place Their Bets

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregg C. Sengstack purchased 8,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were acquired at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the transaction, the director now owns 8,000 shares in the company, valued at $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALLE. Brooklyn Investment Group acquired a new position in Allegion in the third quarter valued at about $28,000. Millstone Evans Group LLC bought a new stake in Allegion in the fourth quarter valued at approximately $28,000. Concord Wealth Partners acquired a new stake in Allegion in the third quarter worth $29,000. Colonial Trust Co SC boosted its position in shares of Allegion by 192.9% during the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. Finally, Cromwell Holdings LLC grew its holdings in shares of Allegion by 65.2% in the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 92 shares during the period. 92.21% of the stock is currently owned by institutional investors.

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.