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

StockNews.com downgraded shares of Allegion (NYSE:ALLE) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

A number of other research firms have also recently commented on ALLE. Barclays cut their target price on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird cut their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company decreased their target price on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Morgan Stanley upped their target price on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $138.33.

Allegion Trading Up 3.1 %

Shares of NYSE ALLE opened at $131.36 on Friday. The stock has a market cap of $11.33 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 3.97 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10. The firm has a 50-day moving average of $130.02 and a 200 day moving average of $137.10.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.11. The firm had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. As a group, sell-side analysts expect that Allegion will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 1.55%. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio is currently 29.91%.

Insider Activity

In other news, SVP David S. Ilardi sold 789 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the transaction, the senior vice president now directly owns 9,625 shares of the company’s stock, valued at $1,205,820. This represents a 7.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at $620,008.40. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

Several institutional investors have recently made changes to their positions in ALLE. Brooklyn Investment Group bought a new stake in Allegion during the third quarter valued at approximately $28,000. Millstone Evans Group LLC bought a new stake in shares of Allegion during the 4th quarter valued at $28,000. Colonial Trust Co SC increased its stake in shares of Allegion by 192.9% in the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. Atala Financial Inc bought a new position in Allegion in the 4th quarter worth $35,000. Finally, GeoWealth Management LLC lifted its position in Allegion by 259.3% during the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 223 shares in the last quarter. Institutional investors 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.