Barclays Lowers Allegion (NYSE:ALLE) Price Target to $130.00

Allegion (NYSE:ALLE) had its price objective decreased by equities research analysts at Barclays from $134.00 to $130.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price objective points to a potential upside of 2.32% from the company’s current price.

Several other brokerages have also recently issued reports on ALLE. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Wells Fargo & Company dropped 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. Morgan Stanley initiated coverage on shares of Allegion in a research note on Monday, January 6th. They set an “equal weight” rating and a $137.00 price target on the stock. Finally, Robert W. Baird dropped their price target on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $138.33.

Allegion Trading Up 0.4 %

Shares of ALLE stock opened at $127.05 on Wednesday. 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 firm’s 50 day moving average is $131.32 and its 200 day moving average is $137.24. The stock has a market capitalization of $11.04 billion, a P/E ratio of 18.63, a P/E/G ratio of 3.09 and a beta of 1.11.

Allegion (NYSE:ALLE) last issued its earnings results 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 net margin of 15.84% and a return on equity of 45.53%. The company had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. Research analysts expect that Allegion will post 7.65 earnings per share for the current year.

Insider Activity

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John H. Stone purchased 7,500 shares of Allegion stock in a transaction on Tuesday, December 3rd. The stock was bought at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fiduciary Management Inc. WI bought a new stake in shares of Allegion in the 4th quarter worth about $116,484,000. Norges Bank purchased a new stake in Allegion in the 4th quarter valued at about $108,058,000. Lord Abbett & CO. LLC boosted its position in Allegion by 96.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after buying an additional 823,874 shares during the period. Raymond James Financial Inc. purchased a new stake in Allegion in the 4th quarter valued at about $65,175,000. Finally, Boston Partners boosted its position in Allegion by 11.6% in the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock valued at $616,503,000 after buying an additional 488,390 shares during the period. 92.21% of the stock is currently owned by institutional investors.

About Allegion

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.