Allegion (NYSE:ALLE) Price Target Raised to $152.00

Allegion (NYSE:ALLE) had its price objective lifted by Wells Fargo & Company from $137.00 to $152.00 in a research report report published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the scientific and technical instruments company’s stock.

Several other equities research analysts have also commented on ALLE. Barclays boosted their target price on shares of Allegion from $117.00 to $135.00 and gave the stock an underweight rating in a research report on Wednesday, October 2nd. StockNews.com raised Allegion from a hold rating to a buy rating in a research note on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $132.00.

Allegion Trading Down 1.3 %

Shares of Allegion stock opened at $144.68 on Monday. The company’s fifty day moving average is $137.92 and its two-hundred day moving average is $128.90. Allegion has a 1 year low of $95.94 and a 1 year high of $147.14. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. The company has a market capitalization of $12.65 billion, a P/E ratio of 23.60, a PEG ratio of 4.38 and a beta of 1.12.

Allegion (NYSE:ALLE) last released 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 company had revenue of $965.60 million during the quarter, compared to analysts’ expectations of $953.63 million. During the same quarter last year, the business earned $1.76 EPS. The business’s revenue was up 5.8% on a year-over-year basis. 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 given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Friday, September 20th. Allegion’s payout ratio is currently 31.32%.

Institutional Investors Weigh In On Allegion

A number of large investors have recently bought and sold shares of the stock. Crewe Advisors LLC boosted its position in shares of Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 149 shares during the last quarter. Gradient Investments LLC purchased a new position in Allegion in the second quarter valued at about $38,000. Kimelman & Baird LLC acquired a new stake in shares of Allegion during the second quarter worth approximately $39,000. Blue Trust Inc. grew its holdings in Allegion by 54.0% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after acquiring an additional 121 shares in the last quarter. Finally, Covestor Ltd grew its stake in Allegion by 255.7% in the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds 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.