Allegion plc (NYSE:ALLE) Receives $126.83 Consensus Price Target from Analysts

Allegion plc (NYSE:ALLE) has been given an average recommendation of “Reduce” by the six brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $126.83.

A number of equities research analysts have weighed in on the company. UBS Group upped their target price on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Barclays downgraded Allegion from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $122.00 to $116.00 in a research report on Tuesday, June 4th.

Insider Buying and Selling at Allegion

In other news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total value of $267,624.12. Following the completion of the sale, the senior vice president now directly owns 11,103 shares in the company, valued at $1,354,343.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Allegion

Several institutional investors and hedge funds have recently bought and sold shares of ALLE. Kestra Advisory Services LLC increased its holdings in Allegion by 16.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 3,688 shares of the scientific and technical instruments company’s stock valued at $384,000 after buying an additional 515 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Allegion by 63.4% in the 3rd quarter. Hsbc Holdings PLC now owns 35,143 shares of the scientific and technical instruments company’s stock valued at $3,670,000 after purchasing an additional 13,642 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Allegion by 49.1% in the 3rd quarter. LPL Financial LLC now owns 54,909 shares of the scientific and technical instruments company’s stock valued at $5,722,000 after purchasing an additional 18,080 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Allegion by 4.5% in the 3rd quarter. Stifel Financial Corp now owns 125,063 shares of the scientific and technical instruments company’s stock valued at $13,032,000 after purchasing an additional 5,438 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Allegion by 17.8% in the 3rd quarter. Federated Hermes Inc. now owns 6,992 shares of the scientific and technical instruments company’s stock valued at $729,000 after purchasing an additional 1,058 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of NYSE ALLE opened at $116.06 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.87 and a debt-to-equity ratio of 1.18. The stock has a 50 day simple moving average of $120.81 and a 200-day simple moving average of $125.35. The company has a market cap of $10.15 billion, a PE ratio of 18.93, a P/E/G ratio of 3.71 and a beta of 1.13. Allegion has a 12-month low of $95.94 and a 12-month high of $136.91.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. The business had revenue of $893.90 million during the quarter, compared to the consensus estimate of $888.27 million. Allegion had a return on equity of 48.58% and a net margin of 14.93%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.58 earnings per share. On average, equities research analysts forecast that Allegion will post 7.09 EPS for the current year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Friday, June 14th. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

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.