Allegion (NYSE:ALLE) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Allegion (NYSE:ALLE) from a hold rating to a buy rating in a report published on Tuesday.

A number of other research analysts also recently commented on ALLE. Barclays lowered their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Robert W. Baird decreased 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, February 19th. Finally, Morgan Stanley boosted their target price on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $138.33.

Allegion Stock Up 1.6 %

ALLE stock opened at $130.01 on Tuesday. Allegion has a 52-week low of $113.27 and a 52-week high of $156.10. The company’s 50 day simple moving average is $130.90 and its 200-day simple moving average is $137.37. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. The firm has a market capitalization of $11.22 billion, a P/E ratio of 19.06, a P/E/G ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS 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 for the quarter, compared to the consensus estimate of $938.91 million. As a group, equities research analysts anticipate that Allegion will post 7.77 EPS for the current year.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is an increase from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s dividend payout ratio is currently 28.15%.

Insider Buying and Selling

In other news, CEO John H. Stone acquired 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregg C. Sengstack acquired 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were purchased at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the acquisition, the director now owns 8,000 shares in the company, valued at $1,001,920. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegion

Several large investors have recently bought and sold shares of ALLE. Fiduciary Management Inc. WI acquired a new position in Allegion during the 4th quarter valued at $116,484,000. Norges Bank acquired a new position in Allegion during the 4th quarter valued at $108,058,000. Lord Abbett & CO. LLC raised its stake in Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after purchasing an additional 823,874 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Allegion during the 4th quarter valued at $65,175,000. Finally, Boston Partners raised its stake in Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock valued at $616,503,000 after purchasing an additional 488,390 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.