Allegion plc (NYSE:ALLE) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Allegion plc (NYSE:ALLE) have earned an average rating of “Reduce” from the six research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $137.67.

Several equities analysts have weighed in on ALLE shares. Wells Fargo & Company lowered their price target on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Morgan Stanley lifted their target price on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Robert W. Baird cut their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Barclays cut their target price on Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a research report on Wednesday, March 26th.

Insider Buying and Selling

In related news, SVP Tracy L. Kemp sold 2,032 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the sale, the senior vice president now owns 10,273 shares in the company, valued at approximately $1,302,000.02. The trade was a 16.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP David S. Ilardi sold 789 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the sale, the senior vice president now directly owns 9,625 shares in the company, valued at approximately $1,205,820. The trade was a 7.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,224 shares of company stock worth $406,636. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALLE. Public Employees Retirement System of Ohio bought a new position in Allegion during the third quarter valued at $4,988,000. Crew Capital Management Ltd. boosted its stake in shares of Allegion by 224.9% during the 4th quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company’s stock worth $759,000 after purchasing an additional 4,022 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Allegion by 4.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock valued at $26,724,000 after purchasing an additional 8,806 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Allegion by 73.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 18,761 shares of the scientific and technical instruments company’s stock worth $2,452,000 after purchasing an additional 7,950 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Allegion by 4.4% in the fourth quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock worth $154,643,000 after purchasing an additional 49,176 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

Shares of Allegion stock opened at $130.80 on Friday. The stock has a market cap of $11.29 billion, a P/E ratio of 19.18, a P/E/G ratio of 3.97 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The stock’s fifty day moving average is $129.40 and its 200 day moving average is $136.11. Allegion has a one year low of $113.27 and a one year high of $156.10.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. The firm had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Sell-side analysts anticipate that Allegion will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.51 per share. This is a positive change from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.56%. Allegion’s dividend payout ratio (DPR) is presently 29.91%.

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.