Allegion (NYSE:ALLE) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Allegion (NYSE:ALLE) from a hold rating to a buy rating in a report released on Wednesday morning.

A number of other research firms have also commented on ALLE. Wells Fargo & Company lowered Allegion from an overweight rating to an equal weight rating and raised their price objective for the stock from $139.00 to $140.00 in a research note on Wednesday, February 21st. Barclays raised their price objective on Allegion from $121.00 to $122.00 and gave the stock an equal weight rating in a research note on Tuesday, April 2nd. Finally, Mizuho lowered Allegion from a buy rating to a neutral rating and raised their price objective for the stock from $140.00 to $141.00 in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $125.67.

Allegion Trading Down 1.8 %

ALLE stock opened at $127.42 on Wednesday. The company has a market cap of $11.16 billion, a P/E ratio of 20.82, a PEG ratio of 4.68 and a beta of 1.14. Allegion has a twelve month low of $95.94 and a twelve month high of $136.91. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. The business has a fifty day moving average of $131.03 and a 200-day moving average of $118.12.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. Allegion had a return on equity of 51.95% and a net margin of 14.80%. The firm had revenue of $897.40 million for the quarter, compared to analyst estimates of $904.17 million. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts expect that Allegion will post 7.01 EPS for the current year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.48 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.51%. Allegion’s dividend payout ratio (DPR) is presently 31.37%.

Insider Activity at Allegion

In related news, SVP Robert C. Martens sold 5,391 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total value of $716,140.44. Following the transaction, the senior vice president now owns 7,555 shares of the company’s stock, valued at $1,003,606.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Allegion news, SVP Robert C. Martens sold 5,391 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total value of $716,140.44. Following the completion of the sale, the senior vice president now directly owns 7,555 shares in the company, valued at $1,003,606.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John H. Stone acquired 10,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was bought at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The disclosure for this purchase can be found here. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Allegion

A number of hedge funds have recently modified their holdings of ALLE. Compass Wealth Management LLC purchased a new stake in Allegion in the 4th quarter worth $25,000. CVA Family Office LLC purchased a new stake in Allegion in the 4th quarter worth $28,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Allegion by 19.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 3,823 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Allegion by 123.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 261 shares of the scientific and technical instruments company’s stock worth $31,000 after buying an additional 144 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of Allegion by 153.3% in the 3rd quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 230 shares during the last quarter. 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.