Allegion (NYSE:ALLE) Stock Rating Upgraded by StockNews.com

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

ALLE has been the topic of a number of other research reports. Morgan Stanley started coverage on Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price target on the stock. Barclays cut their target price on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company decreased their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird increased their price objective on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Mizuho boosted their target price on 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, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Allegion presently has an average rating of “Hold” and a consensus price target of $140.83.

Allegion Stock Performance

ALLE stock opened at $129.27 on Thursday. The stock’s fifty day moving average is $133.64 and its two-hundred day moving average is $137.48. The stock has a market capitalization of $11.24 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 3.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10.

Allegion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. This is an increase from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.58%. Allegion’s payout ratio is presently 29.49%.

Insider Buying and Selling

In related news, CEO John H. Stone purchased 7,500 shares of the firm’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 transaction, the chief executive officer now directly 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 acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Allegion

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC boosted its holdings in shares of Allegion by 96.8% in the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after buying an additional 823,874 shares during the period. Raymond James Financial Inc. acquired a new position in Allegion in the 4th quarter worth approximately $65,175,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Allegion by 397.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock worth $88,450,000 after purchasing an additional 484,995 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Allegion during the 3rd quarter valued at $666,840,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Allegion by 312.4% in the fourth quarter. Allianz Asset Management GmbH now owns 574,012 shares of the scientific and technical instruments company’s stock valued at $75,012,000 after purchasing an additional 434,820 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.