Robert W. Baird Boosts Allegion (NYSE:ALLE) Price Target to $190.00

Allegion (NYSE:ALLE) had its target price boosted by research analysts at Robert W. Baird from $175.00 to $190.00 in a research note issued on Tuesday, MarketBeat reports. The brokerage presently has a “neutral” rating on the scientific and technical instruments company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 8.22% from the stock’s current price.

A number of other equities research analysts also recently weighed in on ALLE. The Goldman Sachs Group raised their target price on shares of Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Barclays raised their target price on shares of Allegion from $163.00 to $185.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Zacks Research downgraded shares of Allegion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Morgan Stanley lifted their price target on shares of Allegion from $139.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Finally, Bank of America raised shares of Allegion from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $176.13.

Allegion Trading Down 2.2%

Shares of ALLE opened at $175.58 on Tuesday. The firm’s 50 day simple moving average is $173.93 and its 200 day simple moving average is $153.96. The company has a market capitalization of $15.07 billion, a P/E ratio of 24.39, a P/E/G ratio of 3.88 and a beta of 1.07. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. Allegion has a 1-year low of $116.57 and a 1-year high of $180.68.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. Allegion’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $1.96 earnings per share. Sell-side analysts forecast that Allegion will post 7.77 earnings per share for the current fiscal year.

Insider Activity at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the transaction, the senior vice president owned 8,773 shares in the company, valued at approximately $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the completion of the transaction, the senior vice president owned 30,023 shares in the company, valued at $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALLE. GAMMA Investing LLC grew its holdings in shares of Allegion by 199.2% in the first quarter. GAMMA Investing LLC now owns 1,508 shares of the scientific and technical instruments company’s stock worth $197,000 after purchasing an additional 1,004 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Allegion by 324.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company’s stock valued at $5,606,000 after acquiring an additional 32,842 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Allegion by 15.0% in the first quarter. Exchange Traded Concepts LLC now owns 760 shares of the scientific and technical instruments company’s stock valued at $99,000 after acquiring an additional 99 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Allegion by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 10,183 shares of the scientific and technical instruments company’s stock valued at $1,328,000 after acquiring an additional 270 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Allegion by 61.9% in the first quarter. Blue Trust Inc. now owns 539 shares of the scientific and technical instruments company’s stock valued at $70,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

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.