Brokerages Set Allegion plc (NYSE:ALLE) Target Price at $140.83

Shares of Allegion plc (NYSE:ALLE) have received a consensus recommendation of “Reduce” from the six brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $140.83.

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Wells Fargo & Company dropped their target price on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Robert W. Baird increased their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Barclays decreased their target price on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Finally, Mizuho upped their price target on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th.

Allegion Stock Up 0.8 %

NYSE:ALLE opened at $133.72 on Friday. The stock has a 50-day simple moving average of $135.90 and a 200 day simple moving average of $136.41. Allegion has a 52-week low of $113.27 and a 52-week high of $156.10. The company has a market cap of $11.62 billion, a PE ratio of 20.54, a PEG ratio of 2.93 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. The business had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 earnings per share. On average, sell-side analysts expect that Allegion will post 7.42 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.44%. Allegion’s dividend payout ratio (DPR) is 29.49%.

Insider Activity

In related news, CEO John H. Stone acquired 7,500 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price 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 of the company’s stock, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the transaction, the senior vice president now owns 7,104 shares in the company, valued at $1,029,511.68. The trade was a 53.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. lifted its stake in shares of Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 72 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Allegion by 0.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock worth $2,871,000 after acquiring an additional 77 shares during the last quarter. Greenwich Wealth Management LLC lifted its position in Allegion by 0.5% in the 2nd 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 in the last quarter. OneDigital Investment Advisors LLC boosted its stake in Allegion by 2.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock valued at $425,000 after purchasing an additional 82 shares during the last quarter. Finally, Heritage Family Offices LLP increased its holdings in Allegion by 3.2% during the 4th quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock worth $346,000 after purchasing an additional 82 shares in the last quarter. 92.21% of the stock is 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.