Analysts Set Allegion plc (NYSE:ALLE) PT at $140.83

Allegion plc (NYSE:ALLE) has earned an average recommendation of “Reduce” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $140.83.

ALLE has been the topic of several research reports. Mizuho boosted their price target on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird upped their target price on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Morgan Stanley initiated coverage on shares of Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price target for the company. Wells Fargo & Company reduced their price objective on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays lowered their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th.

Allegion Stock Performance

NYSE ALLE opened at $131.33 on Thursday. The stock has a market capitalization of $11.42 billion, a PE ratio of 20.17, a P/E/G ratio of 3.19 and a beta of 1.11. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10. The business has a 50 day simple moving average of $132.78 and a two-hundred day simple moving average of $137.52. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.55%. This is an increase from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s dividend payout ratio is presently 29.49%.

Insider Activity at Allegion

In related news, CEO John H. Stone purchased 7,500 shares of Allegion stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the purchase, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegion

A number of hedge funds have recently added to or reduced their stakes in ALLE. Vanguard Group Inc. boosted its holdings 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 valued at $1,400,688,000 after purchasing an additional 177,808 shares during the period. Boston Partners raised 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 valued at $616,503,000 after purchasing an additional 488,390 shares in the last quarter. State Street Corp lifted its holdings in shares of Allegion by 1.2% in 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 buying an additional 49,929 shares during the period. Van ECK Associates Corp grew its position in shares of Allegion by 8.1% during the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after buying an additional 257,175 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Allegion by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company’s stock valued at $280,607,000 after buying an additional 41,417 shares during the period. 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.