Allegion (NYSE:ALLE) Price Target Raised to $187.00

Allegion (NYSE:ALLE) had its target price increased by Barclays from $185.00 to $187.00 in a report published on Friday,Benzinga reports. Barclays currently has an equal weight rating on the scientific and technical instruments company’s stock.

A number of other research firms have also weighed in on ALLE. Weiss Ratings reissued a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Bank of America upgraded shares of Allegion from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $110.00 to $175.00 in a report on Tuesday, July 29th. Zacks Research downgraded shares of Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Finally, Robert W. Baird raised their price target on shares of Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Allegion currently has a consensus rating of “Hold” and a consensus price target of $176.38.

Allegion Trading Down 2.2%

Shares of Allegion stock opened at $167.37 on Friday. The firm has a market capitalization of $14.40 billion, a PE ratio of 22.65, a P/E/G ratio of 3.61 and a beta of 1.07. Allegion has a twelve month low of $116.57 and a twelve month high of $180.68. The firm’s 50-day moving average price is $173.98 and its 200 day moving average price is $155.11. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. Allegion had a net margin of 16.09% and a return on equity of 40.83%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted $2.16 EPS. The business’s revenue was up 10.7% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. On average, sell-side analysts predict that Allegion will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, September 15th. Allegion’s dividend payout ratio (DPR) is 27.60%.

Insiders Place Their Bets

In related news, SVP Timothy P. Eckersley sold 10,810 shares of Allegion stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the sale, the senior vice president owned 30,023 shares in the company, valued at approximately $4,946,589.48. This trade represents a 26.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% of the company’s stock.

Institutional Trading of Allegion

Institutional investors have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC acquired a new stake in Allegion in the 2nd quarter valued at approximately $32,000. CYBER HORNET ETFs LLC acquired a new position in shares of Allegion in the second quarter worth $33,000. Wayfinding Financial LLC acquired a new position in shares of Allegion in the first quarter worth $30,000. Spire Wealth Management grew its stake in shares of Allegion by 78.0% in the second quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 103 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in shares of Allegion in the second quarter worth $37,000. Institutional investors and hedge funds 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.