Barclays Cuts Allegion (NYSE:ALLE) Price Target to $161.00

Allegion (NYSE:ALLE) had its price objective lowered by Barclays from $165.00 to $161.00 in a research report sent to investors on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the scientific and technical instruments company’s stock.

ALLE has been the subject of several other research reports. Bank of America reduced their target price on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. JPMorgan Chase & Co. reduced their target price on shares of Allegion from $190.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Wells Fargo & Company reduced their target price on shares of Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research note on Wednesday, January 21st. Finally, Evercore upgraded shares of Allegion to a “strong-buy” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Allegion currently has an average rating of “Hold” and a consensus target price of $164.00.

Allegion Stock Down 1.4%

NYSE ALLE opened at $135.61 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 1.91. The firm has a 50-day simple moving average of $147.28 and a 200 day simple moving average of $159.49. Allegion has a twelve month low of $134.67 and a twelve month high of $183.11. The stock has a market cap of $11.65 billion, a PE ratio of 18.53, a PEG ratio of 2.86 and a beta of 0.89.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.08). Allegion had a net margin of 15.24% and a return on equity of 35.41%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business posted $1.86 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, research analysts forecast that Allegion will post 8.73 EPS for the current year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, June 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. Allegion’s dividend payout ratio (DPR) is currently 29.57%.

Allegion declared that its Board of Directors has approved a share repurchase program on Tuesday, April 28th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the scientific and technical instruments company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Allegion

In other Allegion news, Director Steven Mizell sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $161.51, for a total transaction of $161,510.00. Following the completion of the transaction, the director owned 4,915 shares in the company, valued at $793,821.65. This trade represents a 16.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sue Main purchased 2,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were acquired at an average price of $149.61 per share, with a total value of $299,220.00. Following the purchase, the director owned 2,000 shares of the company’s stock, valued at approximately $299,220. This trade represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its stake in shares of Allegion by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,817 shares of the scientific and technical instruments company’s stock valued at $1,563,000 after acquiring an additional 59 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Allegion by 16.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 424 shares of the scientific and technical instruments company’s stock valued at $75,000 after acquiring an additional 60 shares during the last quarter. Diversify Advisory Services LLC raised its stake in shares of Allegion by 2.7% in the third quarter. Diversify Advisory Services LLC now owns 2,308 shares of the scientific and technical instruments company’s stock valued at $380,000 after acquiring an additional 60 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Allegion by 4.1% in the fourth quarter. D.A. Davidson & CO. now owns 1,612 shares of the scientific and technical instruments company’s stock valued at $257,000 after acquiring an additional 63 shares during the last quarter. Finally, Banque de Luxembourg S.A. raised its stake in shares of Allegion by 0.3% in the fourth quarter. Banque de Luxembourg S.A. now owns 22,294 shares of the scientific and technical instruments company’s stock valued at $3,550,000 after acquiring an additional 65 shares during the last quarter. 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.