Allegion (NYSE:ALLE) PT Raised to $132.00 at UBS Group

Allegion (NYSE:ALLE) had its price objective upped by UBS Group from $113.00 to $132.00 in a research note issued to investors on Tuesday, Benzinga reports. UBS Group currently has a neutral rating on the scientific and technical instruments company’s stock.

Several other research firms have also recently commented on ALLE. Mizuho cut Allegion from a buy rating to a neutral rating and raised their target price for the stock from $140.00 to $141.00 in a research note on Friday, February 23rd. Wells Fargo & Company cut Allegion from an overweight rating to an equal weight rating and raised their price objective for the company from $139.00 to $140.00 in a research note on Wednesday, February 21st. Barclays raised their price objective on Allegion from $121.00 to $122.00 and gave the company an equal weight rating in a research note on Tuesday, April 2nd. Finally, StockNews.com raised Allegion from a hold rating to a buy rating in a research note on Wednesday, April 10th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $127.83.

Allegion Trading Up 0.3 %

NYSE ALLE opened at $125.18 on Tuesday. The business has a 50 day simple moving average of $130.79 and a 200 day simple moving average of $118.89. Allegion has a one year low of $95.94 and a one year high of $136.91. The stock has a market capitalization of $10.96 billion, a P/E ratio of 20.45, a P/E/G ratio of 4.53 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. Allegion had a return on equity of 51.95% and a net margin of 14.80%. The business had revenue of $897.40 million during the quarter, compared to analysts’ expectations of $904.17 million. During the same quarter last year, the firm posted $1.60 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. Research analysts expect that Allegion will post 7.01 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.48 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.53%. Allegion’s dividend payout ratio is presently 31.37%.

Insider Activity

In other news, SVP Robert C. Martens sold 5,391 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total value of $716,140.44. Following the transaction, the senior vice president now owns 7,555 shares in the company, valued at $1,003,606.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Allegion news, CEO John H. Stone purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average cost of $132.41 per share, for a total transaction of $1,324,100.00. Following the completion of the acquisition, the chief executive officer now owns 104,248 shares of the company’s stock, valued at approximately $13,803,477.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert C. Martens sold 5,391 shares of Allegion stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total value of $716,140.44. Following the sale, the senior vice president now owns 7,555 shares in the company, valued at $1,003,606.20. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Allegion

Hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB lifted its holdings in Allegion by 1.8% during the fourth quarter. Nordea Investment Management AB now owns 1,310,495 shares of the scientific and technical instruments company’s stock worth $165,516,000 after acquiring an additional 23,155 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Allegion by 214.1% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 242,313 shares of the scientific and technical instruments company’s stock worth $30,699,000 after acquiring an additional 165,165 shares during the period. Dark Forest Capital Management LP lifted its holdings in Allegion by 39.7% during the third quarter. Dark Forest Capital Management LP now owns 33,364 shares of the scientific and technical instruments company’s stock worth $3,477,000 after acquiring an additional 9,476 shares during the period. Spire Wealth Management lifted its holdings in Allegion by 41.2% during the third quarter. Spire Wealth Management now owns 35,196 shares of the scientific and technical instruments company’s stock worth $3,667,000 after acquiring an additional 10,272 shares during the period. Finally, Morningstar Investment Services LLC increased its position in Allegion by 7.9% in the third quarter. Morningstar Investment Services LLC now owns 105,262 shares of the scientific and technical instruments company’s stock worth $10,975,000 after buying an additional 7,678 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

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.