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

Allegion (NYSE:ALLE) had its target price lowered by Wells Fargo & Company from $140.00 to $135.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the scientific and technical instruments company’s stock.

Other research analysts have also issued research reports about the stock. Barclays dropped their price target on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday. Morgan Stanley initiated coverage on shares of Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective for the company. StockNews.com lowered shares of 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 report on Wednesday. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, Allegion currently has a consensus rating of “Hold” and an average price target of $138.33.

Allegion Stock Performance

NYSE:ALLE opened at $126.40 on Wednesday. Allegion has a 12-month low of $113.27 and a 12-month high of $156.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $10.99 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 3.29 and a beta of 1.11. The firm has a 50-day moving average price of $131.57 and a 200 day moving average price of $137.32.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The firm had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. Research analysts anticipate that Allegion will post 7.42 earnings per share for the current fiscal year.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is currently 29.49%.

Insider Activity at Allegion

In related news, CEO John H. Stone purchased 7,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired 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 directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allegion

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group bought a new position in Allegion in the third quarter valued at approximately $28,000. Millstone Evans Group LLC bought a new position in Allegion in the fourth quarter valued at approximately $28,000. Concord Wealth Partners bought a new position in Allegion in the third quarter valued at approximately $29,000. Colonial Trust Co SC boosted its stake in 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 acquiring an additional 164 shares during the last quarter. Finally, Cromwell Holdings LLC boosted its stake in 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 acquiring an additional 92 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

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.