Wells Fargo & Company Lowers Allegion (NYSE:ALLE) Price Target to $140.00

Allegion (NYSE:ALLE) had its price target lowered by Wells Fargo & Company from $152.00 to $140.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the scientific and technical instruments company’s stock.

Other research analysts have also recently issued reports about the company. Morgan Stanley started coverage on Allegion in a report on Monday. They set an “equal weight” rating and a $137.00 price objective for the company. Robert W. Baird lifted their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Mizuho upped their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Barclays raised their price objective on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $141.33.

Allegion Stock Performance

NYSE ALLE opened at $127.30 on Tuesday. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The stock has a market cap of $11.07 billion, a P/E ratio of 19.55, a PEG ratio of 3.35 and a beta of 1.11. The company’s 50-day simple moving average is $137.90 and its 200 day simple moving average is $135.72.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. During the same period in the previous year, the business earned $1.94 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts forecast that Allegion will post 7.41 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.51%. Allegion’s payout ratio is currently 29.49%.

Insider Activity

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the transaction, the senior vice president now owns 7,104 shares in the company, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John H. Stone bought 7,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALLE. Diversified Trust Co acquired a new stake in Allegion in the fourth quarter worth $1,773,000. Fortem Financial Group LLC increased its position in shares of Allegion by 4.6% in the 4th quarter. Fortem Financial Group LLC now owns 5,604 shares of the scientific and technical instruments company’s stock valued at $732,000 after buying an additional 245 shares in the last quarter. Nordea Investment Management AB raised its stake in Allegion by 4.4% during the 4th quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock worth $154,643,000 after buying an additional 49,176 shares during the period. GAMMA Investing LLC lifted its holdings in Allegion by 55.6% during the fourth quarter. GAMMA Investing LLC now owns 504 shares of the scientific and technical instruments company’s stock worth $66,000 after acquiring an additional 180 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Allegion by 271.5% in the fourth quarter. Versant Capital Management Inc now owns 613 shares of the scientific and technical instruments company’s stock valued at $80,000 after acquiring an additional 448 shares during the period. 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.