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

Allegion (NYSE:ALLE) had its price target decreased by Barclays from $134.00 to $130.00 in a report issued on Wednesday,Benzinga reports. The firm 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 stock’s current price.

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

Allegion Trading Up 0.4 %

Shares of Allegion stock opened at $127.05 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. Allegion has a 12-month low of $113.27 and a 12-month high of $156.10. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 3.09 and a beta of 1.11. The firm’s 50 day simple moving average is $131.32 and its two-hundred day simple moving average is $137.24.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) 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 analyst estimates of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.53%. Analysts predict that Allegion will post 7.65 EPS for the current year.

Insider Buying and Selling at Allegion

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at $620,008.40. This trade represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John H. Stone acquired 7,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Allegion

A number of hedge funds have recently modified their holdings of ALLE. Brooklyn Investment Group acquired a new stake in shares of Allegion in the third quarter valued at about $28,000. Millstone Evans Group LLC acquired a new stake in shares of Allegion in the fourth quarter valued at about $28,000. Concord Wealth Partners acquired a new stake in shares of Allegion in the third quarter valued at about $29,000. Colonial Trust Co SC raised its position in shares of Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 164 shares during the last quarter. Finally, Cromwell Holdings LLC raised its position in shares of Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 92 shares during the last quarter. 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.