Allegion (NYSE:ALLE) Price Target Cut to $135.00 by Analysts at Wells Fargo & Company

Allegion (NYSE:ALLE) had its target price reduced by equities researchers at Wells Fargo & Company from $140.00 to $135.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 7.20% from the company’s current price.

A number of other equities research analysts have also recently issued reports on ALLE. Robert W. Baird reduced their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday. Morgan Stanley initiated coverage on shares of Allegion in a research report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective for the company. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Barclays cut their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $138.00.

Allegion Trading Down 5.6 %

Shares of Allegion stock opened at $125.94 on Wednesday. The firm has a 50-day moving average of $132.14 and a 200-day moving average of $137.42. The stock has a market cap of $10.95 billion, a PE ratio of 19.35, a PEG ratio of 3.29 and a beta of 1.11. Allegion has a 52-week low of $113.27 and a 52-week high of $156.10. 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 (NYSE:ALLE) last announced its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. Allegion had a net margin of 15.36% and a return on equity of 45.64%. As a group, sell-side analysts forecast that Allegion will post 7.42 EPS for the current year.

Insider Transactions at Allegion

In related news, CEO John H. Stone bought 7,500 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was purchased at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares of the company’s stock, valued at $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Allegion in the third quarter valued at approximately $28,000. Millstone Evans Group LLC acquired a new position in shares of Allegion in the fourth quarter valued at approximately $28,000. Concord Wealth Partners acquired a new position in shares of Allegion in the third quarter valued at approximately $29,000. Colonial Trust Co SC increased its stake in shares of Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 164 shares during the period. Finally, Cromwell Holdings LLC increased its stake in shares of Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 92 shares during the period. 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.