Allegion (NYSE:ALLE) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Allegion (NYSE:ALLE) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

A number of other equities analysts have also recently issued reports on the stock. Barclays dropped their price target on shares of Allegion from $116.00 to $112.00 and set an underweight rating on the stock in a research note on Wednesday, July 10th. UBS Group upped their price target on shares of Allegion from $113.00 to $132.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company decreased their target price on Allegion from $141.00 to $125.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, Allegion presently has a consensus rating of Hold and an average price target of $123.67.

Allegion Stock Performance

Shares of ALLE stock opened at $126.67 on Friday. Allegion has a 12 month low of $95.94 and a 12 month high of $136.91. The stock has a market cap of $11.08 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 3.90 and a beta of 1.13. The company has a current ratio of 1.31, a quick ratio of 0.87 and a debt-to-equity ratio of 1.18. The company’s fifty day moving average price is $119.87 and its 200-day moving average price is $125.03.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The company had revenue of $893.90 million for the quarter, compared to analysts’ expectations of $888.27 million. Allegion had a net margin of 14.93% and a return on equity of 48.58%. Allegion’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 EPS. On average, equities analysts expect that Allegion will post 7.09 EPS for the current fiscal year.

Insider Activity

In other news, SVP Tracy L. Kemp sold 2,194 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the sale, the senior vice president now owns 11,103 shares of the company’s stock, valued at approximately $1,354,343.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp grew its stake in shares of Allegion by 4.1% during the 4th quarter. Stifel Financial Corp now owns 130,196 shares of the scientific and technical instruments company’s stock valued at $16,495,000 after acquiring an additional 5,133 shares during the period. Norden Group LLC bought a new position in shares of Allegion during the 1st quarter valued at approximately $2,271,000. BNP Paribas Financial Markets grew its stake in shares of Allegion by 90.7% during the 1st quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock valued at $16,380,000 after acquiring an additional 57,832 shares during the period. Morningstar Investment Services LLC boosted its stake in Allegion by 107.6% in the 4th quarter. Morningstar Investment Services LLC now owns 218,489 shares of the scientific and technical instruments company’s stock worth $27,717,000 after purchasing an additional 113,227 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Allegion by 214.1% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 242,313 shares of the scientific and technical instruments company’s stock worth $30,699,000 after purchasing an additional 165,165 shares during the period. 92.21% of the stock is currently owned by institutional investors.

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.