Allegion (NYSE:ALLE) Trading Down 5% – Should You Sell?

Shares of Allegion plc (NYSE:ALLE) dropped 5% on Tuesday . The stock traded as low as $127.86 and last traded at $126.66. Approximately 157,059 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 802,278 shares. The stock had previously closed at $133.39.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALLE. Morgan Stanley raised their price target on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company reduced their target price on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday. Robert W. Baird decreased their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays cut their price target on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday. Finally, StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $138.33.

Allegion Stock Up 0.4 %

The stock has a market cap of $11.04 billion, a P/E ratio of 18.63, a P/E/G ratio of 3.09 and a beta of 1.11. 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 moving average is $131.32 and its 200 day moving average is $137.24.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. Allegion had a return on equity of 45.53% and a net margin of 15.84%. The business had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. As a group, equities research analysts forecast that Allegion plc will post 7.65 EPS for the current year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.61%. This is a positive change 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 currently 29.91%.

Insider Transactions at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John H. Stone acquired 7,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the acquisition, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its stake in shares of Allegion by 270.6% during the 4th quarter. Mackenzie Financial Corp now owns 10,346 shares of the scientific and technical instruments company’s stock worth $1,352,000 after purchasing an additional 7,554 shares in the last quarter. Amiral Gestion acquired a new position in Allegion during the fourth quarter worth $2,125,000. Waverly Advisors LLC bought a new stake in Allegion during the fourth quarter worth $200,000. Woodline Partners LP acquired a new stake in Allegion in the fourth quarter valued at $7,896,000. Finally, Sone Capital Management LLC bought a new position in shares of Allegion in the 4th quarter valued at about $498,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.