Allegion (NYSE:ALLE) Cut to Hold at StockNews.com

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

A number of other analysts also recently issued reports on the company. Barclays reduced their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird lifted their target price on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Morgan Stanley assumed coverage on Allegion in a research note on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price objective on the stock. Finally, Mizuho boosted their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $140.83.

Allegion Trading Down 0.5 %

Shares of NYSE:ALLE opened at $132.56 on Thursday. The company has a market cap of $11.52 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 3.26 and a beta of 1.11. Allegion has a 12-month low of $113.27 and a 12-month high of $156.10. The stock has a 50 day moving average of $135.09 and a 200 day moving average of $137.04. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. During the same quarter last year, the company earned $1.94 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts expect that Allegion will post 7.41 EPS for the current year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, December 17th. Allegion’s dividend payout ratio is presently 29.49%.

Insiders Place Their Bets

In other news, CEO John H. Stone bought 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased 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 of the company’s stock, valued at $16,951,676.70. This trade represents a 6.64 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. McClarren Financial Advisors Inc. lifted its holdings in Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 72 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Allegion in the third quarter valued at about $28,000. Concord Wealth Partners acquired a new stake in Allegion in the 3rd quarter valued at about $29,000. Cromwell Holdings LLC increased its holdings in shares of 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 purchasing an additional 92 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new position in shares of Allegion during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.