Barclays Raises Allegion (NYSE:ALLE) Price Target to $135.00

Allegion (NYSE:ALLE) had its target price raised by Barclays from $117.00 to $135.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an underweight rating on the scientific and technical instruments company’s stock.

Other analysts also recently issued reports about the company. StockNews.com upgraded Allegion from a hold rating to a buy rating in a research report on Saturday, July 27th. Wells Fargo & Company upped their price objective on Allegion from $125.00 to $137.00 and gave the stock an equal weight rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $129.00.

Allegion Stock Performance

NYSE:ALLE opened at $145.61 on Wednesday. The stock has a fifty day moving average price of $137.19 and a 200-day moving average price of $128.59. The company has a market cap of $12.73 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 4.38 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. Allegion has a fifty-two week low of $95.94 and a fifty-two week high of $146.76.

Allegion (NYSE:ALLE) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.76 EPS. As a group, equities analysts anticipate that Allegion will post 7.26 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given a dividend of $0.48 per share. The ex-dividend date was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.32%. Allegion’s dividend payout ratio is currently 31.32%.

Hedge Funds Weigh In On Allegion

Large investors have recently bought and sold shares of the company. Crewe Advisors LLC raised its position in Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Gradient Investments LLC bought a new position in Allegion in the second quarter valued at about $38,000. Kimelman & Baird LLC bought a new position in Allegion in the second quarter valued at about $39,000. Blue Trust Inc. raised its position in Allegion by 54.0% in the second quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock valued at $41,000 after purchasing an additional 121 shares during the last quarter. Finally, Covestor Ltd raised its position in Allegion by 255.7% in the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $42,000 after purchasing an additional 225 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

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.