Allegion (NYSE:ALLE) Price Target Cut to $135.00 by Analysts at Wells Fargo & Company

Allegion (NYSE:ALLE) had its price target reduced by Wells Fargo & Company from $140.00 to $135.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the scientific and technical instruments company’s stock.

Several other research firms have also recently commented on ALLE. Morgan Stanley began coverage on shares of Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price objective on the stock. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Barclays cut their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird cut their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $138.33.

Allegion Trading Up 0.4 %

Shares of NYSE ALLE opened at $126.40 on Wednesday. The company’s fifty day moving average is $131.57 and its 200-day moving average is $137.32. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 3.29 and a beta of 1.11. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. Equities research analysts predict that Allegion will post 7.42 EPS for the current year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, March 14th. Allegion’s payout ratio is presently 29.49%.

Insider Buying and Selling at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. The trade was a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John H. Stone acquired 7,500 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the purchase, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALLE. Exchange Traded Concepts LLC acquired a new position in shares of Allegion during the 3rd quarter worth about $94,000. Creative Planning increased its stake in shares of Allegion by 9.1% during the 3rd quarter. Creative Planning now owns 11,865 shares of the scientific and technical instruments company’s stock worth $1,729,000 after purchasing an additional 988 shares during the last quarter. Bleakley Financial Group LLC acquired a new position in shares of Allegion during the 3rd quarter worth about $205,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Allegion by 4.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock worth $1,260,000 after buying an additional 340 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Allegion by 44.9% during the 3rd quarter. Blue Trust Inc. now owns 500 shares of the scientific and technical instruments company’s stock worth $73,000 after buying an additional 155 shares during the period. 92.21% of the stock is currently 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.