Allegion plc (NYSE:ALLE) Given Consensus Recommendation of “Hold” by Brokerages

Allegion plc (NYSE:ALLE) has been assigned an average recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $127.83.

A number of research analysts have recently commented on the stock. 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 report on Tuesday. Barclays upped their price target on shares of Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Mizuho cut shares of Allegion from a “buy” rating to a “neutral” rating and upped their price target for the stock from $140.00 to $141.00 in a report on Friday, February 23rd. Wells Fargo & Company cut shares of Allegion from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $139.00 to $140.00 in a report on Wednesday, February 21st. Finally, StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th.

Insider Activity at Allegion

In related news, CEO John H. Stone acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average cost of $132.41 per share, with a total value of $1,324,100.00. Following the transaction, the chief executive officer now directly owns 104,248 shares of the company’s stock, valued at approximately $13,803,477.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO John H. Stone acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average cost of $132.41 per share, with a total value of $1,324,100.00. Following the transaction, the chief executive officer now directly owns 104,248 shares of the company’s stock, valued at approximately $13,803,477.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert C. Martens sold 5,391 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total transaction of $716,140.44. Following the completion of the transaction, the senior vice president now directly owns 7,555 shares of the company’s stock, valued at $1,003,606.20. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Allegion

Institutional investors and hedge funds have recently bought and sold shares of the business. CVA Family Office LLC acquired a new stake in Allegion during the 4th quarter valued at approximately $28,000. Compass Wealth Management LLC acquired a new stake in Allegion during the 4th quarter valued at approximately $25,000. Benjamin Edwards Inc. lifted its stake in Allegion by 123.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 261 shares of the scientific and technical instruments company’s stock valued at $31,000 after acquiring an additional 144 shares during the period. Ancora Advisors LLC lifted its stake in Allegion by 153.3% during the 3rd quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 230 shares during the period. Finally, Headinvest LLC acquired a new stake in Allegion during the 3rd quarter valued at approximately $48,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Price Performance

Allegion stock opened at $124.84 on Friday. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 4.55 and a beta of 1.14. The firm’s fifty day moving average is $130.93 and its 200 day moving average is $118.74. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. Allegion has a 52-week low of $95.94 and a 52-week high of $136.91.

Allegion (NYSE:ALLE) last announced its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The business had revenue of $897.40 million for the quarter, compared to the consensus estimate of $904.17 million. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts forecast that Allegion will post 7.01 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion’s payout ratio is currently 31.37%.

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.