Brokerages Set Allegion plc (NYSE:ALLE) PT at $123.67

Shares of Allegion plc (NYSE:ALLE) have been given a consensus recommendation of “Reduce” by the six brokerages that are covering the stock, Marketbeat Ratings reports. One research 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 $126.50.

A number of equities analysts have recently issued reports on the company. Barclays upped their price target on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research report on Thursday. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. UBS Group raised their target price on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday.

Insider Activity at Allegion

In other news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total transaction of $267,624.12. Following the transaction, the senior vice president now directly owns 11,103 shares in the company, valued at approximately $1,354,343.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allegion

A number of institutional investors have recently bought and sold shares of ALLE. CVA Family Office LLC purchased a new position in shares of Allegion during the 4th quarter worth $28,000. Robeco Institutional Asset Management B.V. raised its holdings in Allegion by 19.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 3,823 shares in the last quarter. Gradient Investments LLC acquired a new stake in shares of Allegion in the 2nd quarter valued at $38,000. Blue Trust Inc. lifted its holdings in Allegion by 54.0% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after buying an additional 121 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Allegion by 255.7% during the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 225 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Trading Up 3.9 %

ALLE opened at $132.88 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.31 and a debt-to-equity ratio of 1.18. The stock’s fifty day moving average is $120.01 and its two-hundred day moving average is $125.14. The company has a market capitalization of $11.62 billion, a P/E ratio of 21.68, a PEG ratio of 4.00 and a beta of 1.13. Allegion has a 52 week low of $95.94 and a 52 week high of $136.91.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The company had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. Allegion had a net margin of 14.93% and a return on equity of 48.58%. Allegion’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.76 earnings per share. Analysts forecast that Allegion will post 7.09 earnings per share for the current year.

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.