Allegion (NYSE:ALLE) Sets New 52-Week High at $126.97

Allegion PLC (NYSE:ALLE)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $126.97 and last traded at $126.75, with a volume of 72000 shares changing hands. The stock had previously closed at $125.32.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Allegion from a “sell” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Monday, October 28th. Bank of America set a $125.00 price objective on Allegion and gave the company a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Co boosted their price objective on Allegion from $125.00 to $132.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Imperial Capital boosted their price objective on Allegion from $105.00 to $116.00 and gave the company an “in-line” rating in a research note on Monday, October 28th. They noted that the move was a valuation call. Finally, Credit Suisse Group cut Allegion from a “neutral” rating to an “underperform” rating and set a $114.00 price objective on the stock. in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $118.13.

The company has a debt-to-equity ratio of 2.08, a current ratio of 1.90 and a quick ratio of 1.30. The company has a market capitalization of $11.59 billion, a PE ratio of 28.20, a PEG ratio of 1.98 and a beta of 1.18. The firm has a 50-day moving average of $123.31 and a 200 day moving average of $110.02.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.33 by $0.14. Allegion had a return on equity of 69.28% and a net margin of 16.00%. The company had revenue of $748.30 million for the quarter, compared to analysts’ expectations of $737.64 million. During the same period last year, the firm posted $1.23 earnings per share. Allegion’s revenue was up 5.2% compared to the same quarter last year. Equities analysts expect that Allegion PLC will post 4.9 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Tuesday, December 17th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Monday, December 16th. Allegion’s dividend payout ratio (DPR) is presently 24.00%.

In related news, VP Timothy P. Eckersley sold 2,364 shares of Allegion stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $116.28, for a total transaction of $274,885.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Patrick S. Shannon sold 20,421 shares of Allegion stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $115.43, for a total value of $2,357,196.03. The disclosure for this sale can be found here. Insiders have sold a total of 65,288 shares of company stock worth $7,609,276 in the last three months. 0.77% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ALLE. California State Teachers Retirement System increased its stake in Allegion by 0.9% in the 3rd quarter. California State Teachers Retirement System now owns 163,409 shares of the scientific and technical instruments company’s stock worth $16,937,000 after acquiring an additional 1,458 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Allegion by 10.8% in the 2nd quarter. BlackRock Inc. now owns 8,406,547 shares of the scientific and technical instruments company’s stock worth $929,344,000 after purchasing an additional 821,079 shares during the period. Voloridge Investment Management LLC boosted its holdings in shares of Allegion by 189.1% in the 3rd quarter. Voloridge Investment Management LLC now owns 55,513 shares of the scientific and technical instruments company’s stock worth $5,754,000 after purchasing an additional 36,314 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Allegion by 1.8% in the 3rd quarter. Voya Investment Management LLC now owns 56,795 shares of the scientific and technical instruments company’s stock worth $5,887,000 after purchasing an additional 1,015 shares during the period. Finally, Voya Financial Advisors Inc. boosted its holdings in shares of Allegion by 4.8% in the 3rd quarter. Voya Financial Advisors Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock worth $293,000 after purchasing an additional 131 shares during the period. 92.35% of the stock is currently owned by institutional investors.

About Allegion (NYSE:ALLE)

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.

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