Allegion (NYSE:ALLE) Price Target Lowered to $144.00 at Robert W. Baird

Allegion (NYSE:ALLE) had its price objective dropped by equities researchers at Robert W. Baird from $152.00 to $144.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the scientific and technical instruments company’s stock. Robert W. Baird’s price target points to a potential upside of 13.34% from the stock’s previous close.

ALLE has been the subject of several other reports. Morgan Stanley began coverage on Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price for the company. Barclays reduced their target price on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company cut their price objective on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $138.33.

Allegion Stock Up 0.4 %

Shares of ALLE stock opened at $127.05 on Wednesday. Allegion has a 12 month low of $113.27 and a 12 month high of $156.10. The firm has a market cap of $11.04 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 3.09 and a beta of 1.11. The stock has a 50 day moving average of $131.32 and a 200-day moving average of $137.24. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. The firm had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a return on equity of 45.53% and a net margin of 15.84%. On average, equities analysts predict that Allegion will post 7.65 EPS for the current year.

Insider Activity

In other Allegion news, CEO John H. Stone bought 7,500 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the purchase, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. This represents a 6.64 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the sale, the chief accounting officer now owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This trade represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Allegion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLE. Exchange Traded Concepts LLC acquired a new stake in Allegion in the third quarter worth about $94,000. Creative Planning increased its position in Allegion by 9.1% in the third quarter. Creative Planning now owns 11,865 shares of the scientific and technical instruments company’s stock worth $1,729,000 after purchasing an additional 988 shares during the period. Bleakley Financial Group LLC acquired a new stake in Allegion in the third quarter worth about $205,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Allegion by 4.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock worth $1,260,000 after purchasing an additional 340 shares during the period. Finally, Blue Trust Inc. increased its position in Allegion by 44.9% in the third quarter. Blue Trust Inc. now owns 500 shares of the scientific and technical instruments company’s stock worth $73,000 after purchasing an additional 155 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.