Allegion plc (NYSE:ALLE) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Allegion plc (NYSE:ALLE) have received a consensus recommendation of “Reduce” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $125.40.

ALLE has been the subject of several recent analyst reports. Barclays upped their target price on shares of Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research note on Thursday, July 25th. Wells Fargo & Company upped their target price on shares of Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Greenwich Wealth Management LLC lifted its stake in Allegion by 0.5% in the second quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock valued at $1,761,000 after acquiring an additional 79 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in Allegion by 3.6% during the second quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company’s stock worth $310,000 after acquiring an additional 92 shares during the period. Pitcairn Co. increased its position in Allegion by 3.5% during the first quarter. Pitcairn Co. now owns 2,784 shares of the scientific and technical instruments company’s stock worth $375,000 after acquiring an additional 94 shares during the period. First Hawaiian Bank increased its position in Allegion by 6.3% during the first quarter. First Hawaiian Bank now owns 1,861 shares of the scientific and technical instruments company’s stock worth $251,000 after acquiring an additional 110 shares during the period. Finally, Canandaigua National Bank & Trust Co. increased its position in Allegion by 3.3% during the first quarter. Canandaigua National Bank & Trust Co. now owns 3,672 shares of the scientific and technical instruments company’s stock worth $495,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Price Performance

Shares of ALLE stock opened at $141.17 on Monday. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 4.21 and a beta of 1.12. Allegion has a 12 month low of $95.94 and a 12 month high of $141.99. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The stock has a 50-day moving average price of $131.41 and a 200 day moving average price of $127.11.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. Allegion’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 earnings per share. Research analysts expect that Allegion will post 7.26 EPS for the current year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, September 20th. Allegion’s dividend payout ratio is 31.32%.

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.