Allegion (NYSE:ALLE) Sets New 12-Month High – Here’s What Happened

Allegion plc (NYSE:ALLE)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $147.50 and last traded at $146.70, with a volume of 30956 shares changing hands. The stock had previously closed at $147.30.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Wells Fargo & Company increased their target price on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Barclays increased their target price on Allegion from $117.00 to $135.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Allegion presently has an average rating of “Hold” and a consensus price target of $132.00.

Allegion Price Performance

The company has a market capitalization of $13.08 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 4.50 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 company has a 50 day simple moving average of $139.15 and a 200 day simple moving average of $129.15.

Allegion (NYSE:ALLE) last announced its quarterly 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. The company had revenue of $965.60 million during the quarter, compared to analyst estimates of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 earnings per share. As a group, research analysts predict that Allegion plc will post 7.26 EPS for the current year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.28%. Allegion’s dividend payout ratio (DPR) is currently 31.32%.

Institutional Investors Weigh In On Allegion

A number of large investors have recently modified their holdings of the stock. Crewe Advisors LLC grew its stake in Allegion by 160.2% during the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 149 shares in the last quarter. Gradient Investments LLC acquired a new stake in Allegion during the 2nd quarter valued at approximately $38,000. Kimelman & Baird LLC acquired a new stake in Allegion during the 2nd quarter valued at approximately $39,000. Blue Trust Inc. grew its stake 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 valued at $41,000 after purchasing an additional 121 shares in the last quarter. Finally, Covestor Ltd grew its stake in Allegion by 255.7% during the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $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.

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.