Allegion (NYSE:ALLE) Price Target Raised to $139.00

Allegion (NYSE:ALLE) had its price objective hoisted by Morgan Stanley from $137.00 to $139.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the scientific and technical instruments company’s stock.

Several other analysts have also recently issued reports on the stock. Barclays decreased their target price on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company dropped their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Robert W. Baird dropped their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $138.33.

Allegion Price Performance

NYSE:ALLE opened at $127.16 on Wednesday. The business’s 50-day moving average is $131.32 and its 200 day moving average is $137.24. Allegion has a 12 month low of $113.27 and a 12 month high of $156.10. The company has a market capitalization of $10.97 billion, a P/E ratio of 18.64, a P/E/G ratio of 3.99 and a beta of 1.11. The company has a current ratio of 2.04, a quick ratio of 1.29 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE) last posted its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The firm had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. On average, equities research analysts forecast that Allegion will post 7.7 earnings per share 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 $0.51 dividend. This is an increase from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s dividend payout ratio is currently 28.15%.

Insider Transactions at Allegion

In other Allegion news, Director Gregg C. Sengstack acquired 8,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were purchased at an average cost of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the purchase, the director now owns 8,000 shares in the company, valued at approximately $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Nickolas A. Musial sold 403 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the transaction, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at $620,008.40. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fiduciary Management Inc. WI purchased a new position in Allegion in the fourth quarter valued at about $116,484,000. Norges Bank purchased a new position in shares of Allegion in the 4th quarter worth approximately $108,058,000. Lord Abbett & CO. LLC grew its position in shares of Allegion by 96.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after buying an additional 823,874 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Allegion during the 4th quarter worth approximately $65,175,000. Finally, Boston Partners lifted its position in Allegion by 11.6% during the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock valued at $616,503,000 after acquiring an additional 488,390 shares during 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.