Brokerages Set Allegion PLC (NYSE:ALLE) Price Target at $164.75

Allegion PLC (NYSE:ALLE) has received a consensus rating of “Hold” from the eleven research firms that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $164.75.

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of Allegion from $165.00 to $142.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. Weiss Ratings raised Allegion from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Barclays lowered their target price on Allegion from $165.00 to $161.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. JPMorgan Chase & Co. upped their price objective on Allegion from $150.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Robert W. Baird set a $170.00 price objective on Allegion in a research report on Friday, July 24th.

Insider Activity

In other news, SVP Vincent Wenos sold 1,000 shares of Allegion stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $168.25, for a total transaction of $168,250.00. Following the completion of the sale, the senior vice president directly owned 12,096 shares in the company, valued at $2,035,152. The trade was a 7.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Nickolas A. Musial sold 687 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $155.00, for a total transaction of $106,485.00. Following the transaction, the chief accounting officer directly owned 6,798 shares in the company, valued at $1,053,690. The trade was a 9.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,288 shares of company stock valued at $1,764,593 over the last quarter. 0.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allegion

Several large investors have recently added to or reduced their stakes in ALLE. Notis McConarty Edward acquired a new stake in Allegion in the 2nd quarter worth about $239,000. J.Safra Asset Management Corp acquired a new position in shares of Allegion during the 2nd quarter valued at about $42,000. Stoneridge Investment Partners LLC acquired a new position in shares of Allegion during the 2nd quarter valued at about $664,000. Handelsbanken Fonder AB lifted its holdings in shares of Allegion by 43.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 38,900 shares of the scientific and technical instruments company’s stock worth $5,465,000 after acquiring an additional 11,700 shares during the period. Finally, Franklin Street Advisors Inc. NC boosted its position in shares of Allegion by 16.2% in the second quarter. Franklin Street Advisors Inc. NC now owns 2,384 shares of the scientific and technical instruments company’s stock worth $335,000 after acquiring an additional 332 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Performance

ALLE opened at $166.06 on Monday. The stock’s 50 day simple moving average is $143.50 and its 200 day simple moving average is $146.74. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.93 and a quick ratio of 1.23. The stock has a market cap of $14.12 billion, a P/E ratio of 21.79, a P/E/G ratio of 3.42 and a beta of 0.84. Allegion has a 1-year low of $125.00 and a 1-year high of $183.11.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.18. Allegion had a return on equity of 35.41% and a net margin of 15.36%.The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business posted $2.04 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. As a group, equities analysts anticipate that Allegion will post 8.93 EPS for the current fiscal year.

Allegion declared that its board has initiated a share buyback plan on Tuesday, April 28th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

About Allegion

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.