Allegion (NYSE:ALLE) Price Target Raised to $185.00

Allegion (NYSE:ALLE) had its price target hoisted by Barclays from $163.00 to $185.00 in a research note issued to investors on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the scientific and technical instruments company’s stock.

Several other analysts also recently issued reports on the company. Zacks Research downgraded Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Robert W. Baird raised their price target on Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. JPMorgan Chase & Co. began coverage on Allegion in a report on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 price target on the stock. Wells Fargo & Company raised their target price on Allegion from $150.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. Finally, Morgan Stanley raised their target price on Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Allegion has a consensus rating of “Hold” and an average price target of $173.00.

Allegion Trading Down 0.3%

NYSE:ALLE opened at $177.29 on Wednesday. The company has a market cap of $15.22 billion, a PE ratio of 24.62, a P/E/G ratio of 3.82 and a beta of 1.07. Allegion has a 52 week low of $116.57 and a 52 week high of $180.34. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average is $170.96 and its two-hundred day moving average is $149.68.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.96 EPS. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. On average, analysts predict that Allegion will post 7.77 EPS for the current year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, September 15th. Allegion’s payout ratio is currently 28.33%.

Insiders Place Their Bets

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the sale, the senior vice president owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the completion of the sale, the senior vice president directly owned 8,773 shares in the company, valued at $1,446,843.16. This represents a 30.49% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Institutional Trading of Allegion

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Allegion by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company’s stock worth $1,404,672,000 after buying an additional 48,615 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Allegion by 22.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company’s stock worth $623,104,000 after buying an additional 878,796 shares in the last quarter. Boston Partners raised its stake in shares of Allegion by 0.8% in the 1st quarter. Boston Partners now owns 4,752,391 shares of the scientific and technical instruments company’s stock worth $619,700,000 after buying an additional 35,635 shares in the last quarter. State Street Corp raised its position in shares of Allegion by 0.8% during the second quarter. State Street Corp now owns 3,971,235 shares of the scientific and technical instruments company’s stock worth $572,336,000 after purchasing an additional 31,322 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Allegion by 15.2% during the second quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock worth $369,514,000 after purchasing an additional 339,025 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.