Allegion (NYSE:ALLE) Coverage Initiated at Morgan Stanley

Morgan Stanley assumed coverage on shares of Allegion (NYSE:ALLE) in a research report sent to investors on Monday, Marketbeat Ratings reports. The firm issued an equal weight rating and a $137.00 price objective on the scientific and technical instruments company’s stock.

Several other research firms also recently commented on ALLE. Wells Fargo & Company boosted their price objective on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Barclays boosted their price objective on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Mizuho boosted their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Robert W. Baird boosted their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $140.83.

Allegion Trading Up 0.8 %

Shares of ALLE stock opened at $128.43 on Monday. The company has a market cap of $11.16 billion, a P/E ratio of 19.73, a PEG ratio of 3.35 and a beta of 1.11. The stock has a 50 day simple moving average of $137.65 and a two-hundred day simple moving average of $135.80. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion has a fifty-two week low of $113.27 and a fifty-two week high of $156.10.

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

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.92 annualized dividend and a yield of 1.49%. Allegion’s dividend payout ratio (DPR) is currently 29.49%.

Insider Buying and Selling

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the transaction, the senior vice president now owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John H. Stone acquired 7,500 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the transaction, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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