Brokerages Set Allegion PLC (NYSE:ALLE) PT at $140.40

Allegion PLC (NYSE:ALLE) has been assigned an average recommendation of “Reduce” from the five brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $140.40.

A number of equities research analysts have weighed in on ALLE shares. Morgan Stanley upped their price objective on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Wells Fargo & Company cut their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird lifted their price objective on Allegion from $144.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Wall Street Zen cut Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Barclays raised their price target on Allegion from $126.00 to $128.00 and gave the company an “underweight” rating in a report on Friday, April 25th.

Hedge Funds Weigh In On Allegion

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Millstone Evans Group LLC purchased a new position in shares of Allegion in the 4th quarter worth $28,000. Wayfinding Financial LLC bought a new position in Allegion in the first quarter valued at about $30,000. Colonial Trust Co SC boosted its position in Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 164 shares during the last quarter. Atala Financial Inc bought a new stake in shares of Allegion during the 4th quarter valued at about $35,000. Finally, Garde Capital Inc. bought a new stake in shares of Allegion during the 1st quarter valued at about $36,000. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 0.1%

Shares of ALLE opened at $136.19 on Wednesday. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a current ratio of 2.17, a quick ratio of 1.51 and a debt-to-equity ratio of 1.23. The firm’s 50-day moving average price is $137.09 and its 200-day moving average price is $132.91. The firm has a market capitalization of $11.72 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 3.83 and a beta of 1.02.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.18. The company had revenue of $941.90 million during the quarter, compared to analysts’ expectations of $918.53 million. Allegion had a return on equity of 44.82% and a net margin of 16.28%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.55 EPS. Sell-side analysts anticipate that Allegion will post 7.77 EPS for the current year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, June 13th. Allegion’s dividend payout ratio is currently 28.65%.

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.