Allegion plc (NYSE:ALLE) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Allegion plc (NYSE:ALLE) have been given an average rating of “Reduce” by the five brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $132.00.

ALLE has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Finally, Barclays increased their target price on shares of Allegion from $117.00 to $135.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 2nd.

Institutional Investors Weigh In On Allegion

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Greenwich Wealth Management LLC grew its position in Allegion by 0.5% in the second quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock valued at $1,761,000 after acquiring an additional 79 shares during the last quarter. Thrive Wealth Management LLC lifted its stake in Allegion by 5.0% in the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock valued at $269,000 after buying an additional 88 shares during the period. Crossmark Global Holdings Inc. lifted its stake in Allegion by 3.6% in the second quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company’s stock valued at $310,000 after buying an additional 92 shares during the period. Pitcairn Co. increased its holdings in shares of Allegion by 3.5% during the first quarter. Pitcairn Co. now owns 2,784 shares of the scientific and technical instruments company’s stock valued at $375,000 after acquiring an additional 94 shares in the last quarter. Finally, First Hawaiian Bank grew its holdings in Allegion by 6.3% during the first quarter. First Hawaiian Bank now owns 1,861 shares of the scientific and technical instruments company’s stock worth $251,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Trading Down 0.4 %

NYSE:ALLE opened at $145.36 on Friday. Allegion has a 1 year low of $95.94 and a 1 year high of $147.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. The stock has a market cap of $12.71 billion, a P/E ratio of 23.71, a P/E/G ratio of 4.38 and a beta of 1.12. The stock has a 50-day simple moving average of $137.48 and a 200-day simple moving average of $128.67.

Allegion (NYSE:ALLE) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The business 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 company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 EPS. As a group, analysts anticipate that Allegion will post 7.26 earnings per share for the current fiscal year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Friday, September 20th. Allegion’s payout ratio is presently 31.32%.

About Allegion

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.