Allegion (NYSE:ALLE) Price Target Raised to $135.00 at Barclays

Allegion (NYSE:ALLE) had its target price hoisted by Barclays from $117.00 to $135.00 in a research report report published on Wednesday, Benzinga reports. They currently have an underweight rating on the scientific and technical instruments company’s stock.

A number of other equities analysts have also recently issued reports on ALLE. StockNews.com raised Allegion from a hold rating to a buy rating in a report on Saturday, July 27th. Wells Fargo & Company raised their price target on Allegion from $125.00 to $137.00 and gave the stock an equal weight rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $129.00.

Allegion Trading Down 0.2 %

NYSE:ALLE opened at $145.61 on Wednesday. Allegion has a 1-year low of $95.94 and a 1-year high of $146.76. The firm has a market capitalization of $12.73 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 4.38 and a beta of 1.12. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The stock has a fifty day simple moving average of $137.19 and a 200 day simple moving average of $128.56.

Allegion (NYSE:ALLE) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm had revenue of $965.60 million for the quarter, compared to the consensus estimate of $953.63 million. During the same period in the prior year, the business posted $1.76 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Allegion will post 7.26 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s payout ratio is presently 31.32%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its holdings in Allegion by 483.1% during the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock worth $60,914,000 after acquiring an additional 427,146 shares during the period. Renaissance Technologies LLC bought a new position in Allegion in the 2nd quarter valued at about $27,056,000. Hawk Ridge Capital Management LP lifted its position in Allegion by 39.8% in the 4th quarter. Hawk Ridge Capital Management LP now owns 712,774 shares of the scientific and technical instruments company’s stock valued at $90,301,000 after acquiring an additional 202,774 shares in the last quarter. AXA S.A. lifted its position in Allegion by 83.6% in the 2nd quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company’s stock valued at $39,179,000 after acquiring an additional 151,013 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new position in Allegion in the 4th quarter valued at about $16,902,000. 92.21% of the stock is currently 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.