Barclays Cuts Allegion (NYSE:ALLE) Price Target to $126.00

Allegion (NYSE:ALLE) had its price objective cut by equities researchers at Barclays from $130.00 to $126.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price objective points to a potential downside of 2.74% from the company’s current price.

A number of other research firms have also issued reports on ALLE. Morgan Stanley boosted their target price on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird reduced their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, Allegion presently has an average rating of “Hold” and an average target price of $137.67.

Allegion Stock Performance

Shares of ALLE stock opened at $129.55 on Wednesday. The company’s fifty day simple moving average is $129.72 and its 200-day simple moving average is $136.38. The company has a market cap of $11.18 billion, a PE ratio of 18.94, a P/E/G ratio of 3.97 and a beta of 1.11. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10. 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 (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. As a group, equities research analysts anticipate that Allegion will post 7.77 EPS for the current year.

Insider Transactions at Allegion

In related news, SVP Tracy L. Kemp sold 2,032 shares of Allegion stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following the sale, the senior vice president now owns 10,273 shares of the company’s stock, valued at approximately $1,302,000.02. This trade represents a 16.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregg C. Sengstack bought 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was acquired at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the transaction, the director now owns 8,000 shares of the company’s stock, valued at $1,001,920. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 3,224 shares of company stock valued at $406,636 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allegion

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

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.