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

Shares of Allegion plc (NYSE:ALLE) have received an average recommendation of “Reduce” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $140.83.

A number of research analysts have issued reports on ALLE shares. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley started coverage on Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price target for the company. Wells Fargo & Company cut their price objective on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Barclays decreased their target price on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Finally, Robert W. Baird increased their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th.

Insider Buying and Selling at Allegion

In other news, CEO John H. Stone purchased 7,500 shares of the business’s 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 purchase, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. This trade represents a 6.64 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning raised its stake in Allegion by 5.8% during the 2nd quarter. Creative Planning now owns 10,877 shares of the scientific and technical instruments company’s stock worth $1,285,000 after acquiring an additional 593 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Allegion by 7.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,458 shares of the scientific and technical instruments company’s stock worth $409,000 after purchasing an additional 247 shares in the last quarter. Cetera Investment Advisers boosted its stake in Allegion by 5.3% in the 2nd quarter. Cetera Investment Advisers now owns 13,788 shares of the scientific and technical instruments company’s stock worth $1,629,000 after purchasing an additional 697 shares during the period. Czech National Bank grew its holdings in Allegion by 6.5% during the 3rd quarter. Czech National Bank now owns 17,748 shares of the scientific and technical instruments company’s stock valued at $2,587,000 after buying an additional 1,085 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Allegion by 66.2% during the third quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock valued at $47,000 after buying an additional 129 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Price Performance

ALLE stock opened at $131.33 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The firm has a 50 day moving average price of $132.78 and a 200-day moving average price of $137.52. Allegion has a 52-week low of $113.27 and a 52-week high of $156.10. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 3.19 and a beta of 1.11.

Allegion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.48. Allegion’s 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.