Wells Fargo & Company Has Lowered Expectations for Allegion (NYSE:ALLE) Stock Price

Allegion (NYSE:ALLE) had its target price lowered by analysts at Wells Fargo & Company from $152.00 to $140.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 9.56% from the stock’s current price.

Other analysts also recently issued reports about the company. Barclays increased their price objective on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Robert W. Baird raised their price objective on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Mizuho raised their price target on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Morgan Stanley started coverage on Allegion in a report on Monday. They issued an “equal weight” rating and a $137.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $141.33.

Allegion Price Performance

Allegion stock traded down $1.34 during trading hours on Tuesday, reaching $127.78. 98,208 shares of the stock were exchanged, compared to its average volume of 486,875. The stock has a 50 day moving average of $137.90 and a two-hundred day moving average of $135.72. The company has a market cap of $11.11 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11. 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 twelve month low of $113.27 and a twelve month high of $156.10.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same period in the previous year, the firm posted $1.94 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. Equities analysts expect that Allegion will post 7.41 EPS for the current fiscal year.

Insider Buying and Selling at Allegion

In related news, CEO John H. Stone purchased 7,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This trade represents a 6.64 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the transaction, the senior vice president now owns 7,104 shares in the company, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Several hedge funds have recently made changes to their positions in ALLE. McClarren Financial Advisors Inc. raised its stake in Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 72 shares during the period. TD Private Client Wealth LLC lifted its holdings in Allegion by 0.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock worth $2,871,000 after purchasing an additional 77 shares in the last quarter. Greenwich Wealth Management LLC boosted its stake in Allegion by 0.5% in the 2nd quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock worth $1,761,000 after purchasing an additional 79 shares during the period. OneDigital Investment Advisors LLC increased its position in shares of Allegion by 2.9% during the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock valued at $425,000 after buying an additional 82 shares during the period. Finally, Thrive Wealth Management LLC lifted its holdings in shares of Allegion by 5.0% in the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock worth $269,000 after buying an additional 88 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

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.