Allegion (NYSE:ALLE) Coverage Initiated by Analysts at Morgan Stanley

Equities researchers at Morgan Stanley assumed coverage on shares of Allegion (NYSE:ALLE) in a report issued on Monday, Marketbeat Ratings reports. The firm set an “equal weight” rating and a $137.00 price target on the scientific and technical instruments company’s stock. Morgan Stanley’s price objective indicates a potential upside of 7.62% from the company’s current price.

A number of other brokerages also recently commented on ALLE. Wells Fargo & Company upped their price objective on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Barclays upped their price target on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. Robert W. Baird lifted their price objective on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Mizuho upped their target price on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $141.33.

Allegion Price Performance

Shares of NYSE ALLE opened at $127.30 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $11.07 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. The business has a 50 day simple moving average of $137.90 and a 200-day simple moving average of $135.72.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $970.70 million. During the same period in the prior year, the company earned $1.94 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts expect that Allegion will post 7.41 earnings per share for the current year.

Insider Activity

In other news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction 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. This trade represents a 53.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John H. Stone bought 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average price 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 directly owns 120,481 shares in the company, 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 institutional investors and hedge funds have recently modified their holdings of the stock. McClarren Financial Advisors Inc. boosted its position in shares of Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 72 shares during the period. Brooklyn Investment Group acquired a new stake in Allegion during the 3rd quarter worth about $28,000. Concord Wealth Partners purchased a new position in Allegion during the 3rd quarter valued at about $29,000. Cromwell Holdings LLC increased its holdings in shares of Allegion by 65.2% in the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 92 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in shares of Allegion in the second quarter worth approximately $39,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.