Allegion (NYSE:ALLE) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Allegion (NYSE:ALLE) from a buy rating to a hold rating in a research report report published on Thursday morning.

Several other equities research analysts also recently weighed in on ALLE. Barclays cut their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird boosted their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Morgan Stanley started coverage on shares of Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price objective for the company. Wells Fargo & Company reduced their target price 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. Finally, Mizuho lifted 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. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, Allegion presently has an average rating of “Hold” and a consensus target price of $140.83.

Allegion Trading Up 0.9 %

ALLE opened at $133.31 on Thursday. The company has a market cap of $11.59 billion, a P/E ratio of 20.48, a PEG ratio of 3.34 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. The company’s 50 day moving average is $135.39 and its 200-day moving average is $136.79. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10.

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, beating analysts’ consensus estimates of $1.98 by $0.18. The firm had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.94 earnings per share. Equities research analysts predict that Allegion will post 7.41 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Tuesday, December 17th. Allegion’s dividend payout ratio is currently 29.49%.

Insider Buying and Selling

In other Allegion news, CEO John H. Stone bought 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegion

Several institutional investors have recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. increased its stake in shares of 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 in the last quarter. Brooklyn Investment Group acquired a new stake in Allegion in the third quarter worth $28,000. Concord Wealth Partners bought a new stake in Allegion in the third quarter valued at $29,000. Cromwell Holdings LLC raised its holdings in shares of Allegion by 65.2% during the third 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 bought a new position in shares of Allegion during the 2nd quarter worth about $39,000. 92.21% of the stock is 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.