Allegion (NYSE:ALLE – Get Rating) had its price objective increased by research analysts at Morgan Stanley from $115.00 to $117.00 in a research report issued on Friday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Morgan Stanley’s target price would indicate a potential upside of 12.17% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. Barclays dropped their price objective on shares of Allegion from $140.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, July 8th. TheStreet lowered Allegion from a “b-” rating to a “c+” rating in a report on Tuesday, July 5th. Wells Fargo & Company reduced their price objective on Allegion from $118.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Mizuho decreased their price objective on shares of Allegion from $145.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Finally, Bank of America downgraded Allegion from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $130.00 to $110.00 in a research report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $123.33.
Allegion Trading Up 0.1 %
Shares of ALLE stock opened at $104.31 on Friday. The stock has a 50 day simple moving average of $102.95 and a 200-day simple moving average of $111.03. Allegion has a 1-year low of $93.05 and a 1-year high of $148.70. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.52 and a beta of 1.05. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.85 and a quick ratio of 1.16.
Allegion (NYSE:ALLE – Get Rating) last issued its earnings results on Thursday, July 28th. The scientific and technical instruments company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.04. Allegion had a return on equity of 57.54% and a net margin of 16.15%. The business had revenue of $773.10 million for the quarter, compared to analysts’ expectations of $771.68 million. During the same period in the previous year, the firm posted $1.32 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts expect that Allegion will post 5.58 EPS for the current fiscal year.
Insider Transactions at Allegion
In related news, SVP Jeffrey N. Braun sold 2,186 shares of the stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $114.02, for a total transaction of $249,247.72. Following the completion of the transaction, the senior vice president now owns 12,988 shares in the company, valued at $1,480,891.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Allegion news, SVP Jeffrey N. Braun sold 2,186 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $114.02, for a total value of $249,247.72. Following the transaction, the senior vice president now directly owns 12,988 shares of the company’s stock, valued at approximately $1,480,891.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Tracy L. Kemp sold 2,544 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $112.55, for a total transaction of $286,327.20. Following the completion of the transaction, the senior vice president now owns 10,379 shares of the company’s stock, valued at approximately $1,168,156.45. The disclosure for this sale can be found here. Insiders sold a total of 8,926 shares of company stock worth $1,004,286 in the last quarter. 0.79% of the stock is owned by company insiders.
Hedge Funds Weigh In On Allegion
Several hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI raised its position in shares of Allegion by 11.2% in the 2nd quarter. National Bank of Canada FI now owns 8,360 shares of the scientific and technical instruments company’s stock worth $818,000 after acquiring an additional 844 shares in the last quarter. Comgest Global Investors S.A.S. grew its stake in Allegion by 5.4% during the second quarter. Comgest Global Investors S.A.S. now owns 369,690 shares of the scientific and technical instruments company’s stock worth $87,495,000 after purchasing an additional 18,829 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Allegion by 61.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 363 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 138 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Allegion by 5.4% in the second quarter. Park Avenue Securities LLC now owns 3,774 shares of the scientific and technical instruments company’s stock valued at $369,000 after buying an additional 192 shares during the period. Finally, Mission Wealth Management LP boosted its holdings in shares of Allegion by 21.8% during the 2nd quarter. Mission Wealth Management LP now owns 8,051 shares of the scientific and technical instruments company’s stock worth $788,000 after buying an additional 1,440 shares in the last quarter. Institutional investors and hedge funds own 95.21% 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 closers, controls, 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 and door systems; and other accessories.