Barclays Cuts Allegion (NYSE:ALLE) Price Target to $126.00

Allegion (NYSE:ALLE) had its target price decreased by Barclays from $130.00 to $126.00 in a research note published on Wednesday,Benzinga reports. Barclays currently has an underweight rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also recently issued reports on ALLE. Wells Fargo & Company cut their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. 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 lifted their price target on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, Allegion presently has a consensus rating of “Hold” and a consensus target price of $137.67.

Allegion Trading Down 1.4 %

Allegion stock opened at $128.32 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10. The firm’s 50-day moving average is $129.55 and its 200-day moving average is $136.25. The company has a market cap of $11.07 billion, a P/E ratio of 18.82, a PEG ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The firm had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. On average, equities analysts expect that Allegion will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, March 14th. Allegion’s dividend payout ratio is currently 29.91%.

Insider Activity at Allegion

In related news, SVP Tracy L. Kemp sold 2,032 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the sale, the senior vice president now directly owns 10,273 shares in the company, valued at $1,302,000.02. The trade was a 16.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David S. Ilardi sold 789 shares of Allegion stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the completion of the transaction, the senior vice president now owns 9,625 shares in the company, valued at approximately $1,205,820. This trade represents a 7.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,224 shares of company stock worth $406,636 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allegion

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Allegion by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company’s stock worth $1,400,688,000 after acquiring an additional 177,808 shares in the last quarter. Boston Partners grew its position 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 worth $616,503,000 after purchasing an additional 488,390 shares in the last quarter. State Street Corp grew its position in Allegion by 1.2% during the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after purchasing an additional 49,929 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Allegion by 1.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company’s stock valued at $509,313,000 after purchasing an additional 38,377 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Allegion by 8.1% in the fourth quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock valued at $449,033,000 after purchasing an additional 257,175 shares in 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.