Allegion (NYSE:ALLE) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Allegion (NYSE:ALLE) from a buy rating to a hold rating in a research report released on Friday.

A number of other research analysts have also recently commented on ALLE. Morgan Stanley increased their target price on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Robert W. Baird dropped their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company decreased 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, Barclays cut their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $138.33.

Allegion Stock Performance

NYSE:ALLE opened at $131.36 on Friday. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The stock has a market cap of $11.33 billion, a P/E ratio of 19.26, a PEG ratio of 3.97 and a beta of 1.10. The business’s 50-day moving average price is $130.02 and its two-hundred day moving average price is $137.10.

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

Allegion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This is a boost from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 1.55%. Allegion’s dividend payout ratio (DPR) is currently 29.91%.

Insider Buying and Selling

In related news, CAO Nickolas A. Musial sold 403 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the transaction, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. The trade was a 7.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregg C. Sengstack acquired 8,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was acquired at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the acquisition, the director now owns 8,000 shares in the company, valued at approximately $1,001,920. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by insiders.

Institutional Trading of Allegion

Several large investors have recently added to or reduced their stakes in ALLE. Public Employees Retirement System of Ohio purchased a new stake in shares of Allegion in the 3rd quarter worth about $4,988,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Allegion by 4.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock worth $26,724,000 after buying an additional 8,806 shares in the last quarter. Qsemble Capital Management LP purchased a new stake in Allegion in the third quarter worth about $891,000. Nordea Investment Management AB boosted its position in Allegion by 4.4% during the 4th quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock valued at $154,643,000 after acquiring an additional 49,176 shares in the last quarter. Finally, Crew Capital Management Ltd. boosted its position in Allegion by 224.9% during the 4th quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company’s stock valued at $759,000 after acquiring an additional 4,022 shares in the last quarter. 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.