Allegion plc (NYSE:ALLE) Given Consensus Rating of “Reduce” by Brokerages

Allegion plc (NYSE:ALLE) has earned an average recommendation of “Reduce” from the six research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $138.33.

Several brokerages recently issued reports on ALLE. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company cut their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Morgan Stanley lifted their price objective on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Barclays cut their price objective on Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Finally, Robert W. Baird cut their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th.

Insider Activity

In other news, SVP David S. Ilardi sold 789 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the completion of the sale, the senior vice president now directly owns 9,625 shares of the company’s stock, valued at $1,205,820. The trade was a 7.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Nickolas A. Musial sold 403 shares of the business’s 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 sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Several institutional investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Allegion during the 4th quarter valued at $25,843,000. Azzad Asset Management Inc. ADV boosted its position in Allegion by 3.4% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 26,213 shares of the scientific and technical instruments company’s stock worth $3,426,000 after purchasing an additional 852 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Allegion during the 4th quarter worth $1,329,000. Mackenzie Financial Corp boosted its position in Allegion by 270.6% during the 4th quarter. Mackenzie Financial Corp now owns 10,346 shares of the scientific and technical instruments company’s stock worth $1,352,000 after purchasing an additional 7,554 shares during the period. Finally, Amiral Gestion purchased a new stake in Allegion during the 4th quarter worth $2,125,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Price Performance

Shares of NYSE:ALLE opened at $131.36 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. Allegion has a 12 month low of $113.27 and a 12 month high of $156.10. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. The business’s 50 day simple moving average is $130.02 and its 200-day simple moving average is $137.15.

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

Allegion Increases Dividend

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

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.