Allegion (NYSE:ALLE) Price Target Raised to $132.00

Allegion (NYSE:ALLE) had its price objective increased by UBS Group from $113.00 to $132.00 in a research note published on Tuesday, Benzinga reports. UBS Group currently has a neutral rating on the scientific and technical instruments company’s stock.

Several other analysts also recently weighed in on ALLE. Mizuho downgraded shares of Allegion from a buy rating to a neutral rating and lifted their price target for the company from $140.00 to $141.00 in a research note on Friday, February 23rd. Barclays lifted their price target on shares of Allegion from $121.00 to $122.00 and gave the company an equal weight rating in a research note on Tuesday, April 2nd. StockNews.com raised shares of Allegion from a hold rating to a buy rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company downgraded shares of Allegion from an overweight rating to an equal weight rating and boosted their price objective for the stock from $139.00 to $140.00 in a research note on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $127.83.

Allegion Stock Down 0.7 %

Shares of NYSE ALLE opened at $124.84 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85. The company has a market cap of $10.93 billion, a P/E ratio of 20.40, a PEG ratio of 4.55 and a beta of 1.14. Allegion has a 1 year low of $95.94 and a 1 year high of $136.91. The firm has a 50-day simple moving average of $130.93 and a two-hundred day simple moving average of $118.74.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The firm had revenue of $897.40 million during the quarter, compared to the consensus estimate of $904.17 million. During the same quarter in the previous year, the firm posted $1.60 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. Research analysts anticipate that Allegion will post 7.01 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Thursday, June 13th. Allegion’s dividend payout ratio (DPR) is 31.37%.

Insider Transactions at Allegion

In other news, SVP Robert C. Martens sold 5,391 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total transaction of $716,140.44. Following the transaction, the senior vice president now directly owns 7,555 shares of the company’s stock, valued at $1,003,606.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Robert C. Martens sold 5,391 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total transaction of $716,140.44. Following the transaction, the senior vice president now directly owns 7,555 shares of the company’s stock, valued at $1,003,606.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Timothy P. Eckersley sold 5,047 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $129.99, for a total value of $656,059.53. Following the transaction, the vice president now directly owns 35,567 shares in the company, valued at $4,623,354.33. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Allegion

Hedge funds have recently made changes to their positions in the company. CVA Family Office LLC acquired a new position in shares of Allegion in the 4th quarter valued at $28,000. Compass Wealth Management LLC acquired a new stake in Allegion during the 4th quarter worth about $25,000. Benjamin Edwards Inc. grew its position in Allegion by 123.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 261 shares of the scientific and technical instruments company’s stock worth $31,000 after purchasing an additional 144 shares during the period. Ancora Advisors LLC grew its position in Allegion by 153.3% during the 3rd quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 230 shares during the period. Finally, Headinvest LLC acquired a new stake in Allegion during the 3rd quarter worth about $48,000. 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.