Allegion (NYSE:ALLE) Given New $126.00 Price Target at Barclays

Allegion (NYSE:ALLE) had its target price cut by Barclays from $130.00 to $126.00 in a report released on Wednesday,Benzinga reports. They currently have an underweight rating on the scientific and technical instruments company’s stock.

ALLE has been the subject of several other research reports. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Robert W. Baird reduced their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price target on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Finally, Morgan Stanley lifted their price objective on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $137.67.

Allegion Stock Down 1.4 %

ALLE stock opened at $128.32 on Wednesday. The company has a 50 day moving average of $129.55 and a two-hundred day moving average of $136.25. The company has a market cap of $11.07 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 3.97 and a beta of 1.11. Allegion has a 12-month low of $113.27 and a 12-month high of $156.10. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. On average, equities analysts anticipate that Allegion will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. This is a positive change from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.59%. Allegion’s dividend payout ratio (DPR) is currently 29.91%.

Insider Transactions at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregg C. Sengstack bought 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the purchase, the director now owns 8,000 shares in the company, valued at $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegion

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group bought a new stake in Allegion in the 3rd quarter valued at $28,000. Millstone Evans Group LLC acquired a new position in shares of Allegion during the fourth quarter valued at about $28,000. Colonial Trust Co SC lifted its stake in shares of Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 164 shares during the period. Atala Financial Inc acquired a new stake in Allegion during the fourth quarter worth about $35,000. Finally, GeoWealth Management LLC increased its stake in Allegion by 259.3% during the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 223 shares during the period. Institutional investors own 92.21% of the company’s stock.

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.