Allegion (NYSE:ALLE) Reaches New 1-Year High – Time to Buy?

Shares of Allegion PLC (NYSE:ALLE) hit a new 52-week high during trading on Thursday . The stock traded as high as $182.79 and last traded at $183.18, with a volume of 43569 shares trading hands. The stock had previously closed at $179.39.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALLE. Wells Fargo & Company reiterated a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Robert W. Baird increased their price objective on shares of Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Barclays lowered their target price on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Allegion currently has a consensus rating of “Hold” and a consensus target price of $174.25.

Allegion Stock Performance

The firm has a market capitalization of $15.39 billion, a PE ratio of 24.23, a P/E/G ratio of 3.27 and a beta of 1.03. The business has a 50-day simple moving average of $164.18 and a 200-day simple moving average of $167.89. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.77 and a quick ratio of 1.11.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, March 13th. This is an increase from Allegion’s previous quarterly dividend of $0.51. Allegion’s dividend payout ratio (DPR) is 29.77%.

Hedge Funds Weigh In On Allegion

Several institutional investors have recently made changes to their positions in ALLE. Norges Bank bought a new position in Allegion during the 4th quarter worth about $131,523,000. Berkshire Hathaway Inc purchased a new stake in shares of Allegion in the 2nd quarter worth approximately $112,433,000. Geode Capital Management LLC boosted its stake in shares of Allegion by 15.2% during the second quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock valued at $369,514,000 after purchasing an additional 339,025 shares in the last quarter. Franklin Resources Inc. increased its holdings in Allegion by 163.9% during the fourth quarter. Franklin Resources Inc. now owns 529,243 shares of the scientific and technical instruments company’s stock valued at $84,266,000 after buying an additional 328,701 shares during the period. Finally, Cooke & Bieler LP raised its stake in Allegion by 118.5% in the second quarter. Cooke & Bieler LP now owns 544,659 shares of the scientific and technical instruments company’s stock worth $78,496,000 after buying an additional 295,395 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.