StockNews.com Downgrades Allegion (NYSE:ALLE) to Hold

StockNews.com downgraded shares of Allegion (NYSE:ALLE) from a buy rating to a hold rating in a research note issued to investors on Thursday.

ALLE has been the topic of a number of other reports. Wells Fargo & Company cut their target price on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird increased their target price on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Mizuho raised their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley initiated coverage on Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective for the company. Finally, Barclays reduced their price target 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. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $140.83.

Allegion Price Performance

Allegion stock opened at $132.56 on Thursday. Allegion has a 12-month low of $113.27 and a 12-month high of $156.10. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The stock has a market cap of $11.52 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 3.26 and a beta of 1.11. The company has a fifty day simple moving average of $135.09 and a 200-day simple moving average of $137.04.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business had revenue of $967.10 million during the quarter, compared to analysts’ expectations of $970.70 million. During the same quarter in the prior year, the business posted $1.94 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts expect that Allegion will post 7.41 EPS for the current fiscal year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a $0.48 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $1.92 annualized dividend and a yield of 1.45%. Allegion’s payout ratio is currently 29.49%.

Insider Transactions at Allegion

In other news, CEO John H. Stone bought 7,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV raised its holdings in shares of Allegion by 70.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 9,650 shares of the scientific and technical instruments company’s stock valued at $1,172,000 after buying an additional 4,004 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Allegion by 16.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,222 shares of the scientific and technical instruments company’s stock valued at $490,000 after acquiring an additional 588 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Allegion during the second quarter worth $569,000. Canada Pension Plan Investment Board bought a new position in Allegion in the second quarter worth about $842,000. Finally, Sei Investments Co. lifted its holdings in shares of Allegion by 13.0% in the 2nd quarter. Sei Investments Co. now owns 32,225 shares of the scientific and technical instruments company’s stock worth $3,807,000 after purchasing an additional 3,707 shares during the last quarter. 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.