Allegion (NYSE:ALLE) Price Target Raised to $137.00

Allegion (NYSE:ALLE) had its price objective upped by Wells Fargo & Company from $125.00 to $137.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the scientific and technical instruments company’s stock.

Other research analysts have also issued research reports about the stock. UBS Group raised their target price on shares of Allegion from $113.00 to $132.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Barclays raised their price objective on shares of Allegion from $112.00 to $117.00 and gave the company an underweight rating in a research note on Thursday. Finally, StockNews.com lowered shares of Allegion from a buy rating to a hold rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $126.50.

Allegion Stock Performance

ALLE stock opened at $134.80 on Thursday. The stock has a market capitalization of $11.79 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 3.94 and a beta of 1.13. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 0.87. The company has a 50 day moving average price of $120.01 and a 200 day moving average price of $125.14. Allegion has a fifty-two week low of $95.94 and a fifty-two week high of $136.91.

Allegion (NYSE:ALLE) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The company had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.76 earnings per share. Analysts forecast that Allegion will post 7.22 EPS for the current year.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of Allegion stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total transaction of $267,624.12. Following the transaction, the senior vice president now directly owns 11,103 shares in the company, valued at $1,354,343.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Allegion

A number of hedge funds and other institutional investors have recently made changes to their positions in ALLE. Raymond James Trust N.A. lifted its stake in Allegion by 3.6% in the 2nd quarter. Raymond James Trust N.A. now owns 4,905 shares of the scientific and technical instruments company’s stock valued at $580,000 after acquiring an additional 170 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Allegion in the second quarter valued at approximately $44,000. Herold Advisors Inc. lifted its position in shares of Allegion by 11.2% in the second quarter. Herold Advisors Inc. now owns 9,001 shares of the scientific and technical instruments company’s stock worth $1,063,000 after purchasing an additional 909 shares in the last quarter. &PARTNERS bought a new position in Allegion in the second quarter valued at $564,000. Finally, American National Bank grew its position in Allegion by 12.3% in the second quarter. American National Bank now owns 10,189 shares of the scientific and technical instruments company’s stock valued at $1,204,000 after purchasing an additional 1,115 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.