Allegion (NYSE:ALLE) Reaches New 1-Year High – Here’s What Happened

Allegion PLC (NYSE:ALLE) reached a new 52-week high on Thursday. The company traded as high as $184.15 and last traded at $183.57, with a volume of 35,489 shares. The stock had previously closed at $180.66.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Robert W. Baird set a $196.00 price objective on Allegion in a report on Friday, October 23rd. Mizuho set a $180.00 target price on Allegion in a research note on Friday, October 23rd. The Goldman Sachs Group upped their price objective on shares of Allegion from $182.00 to $206.00 and gave the company a “buy” rating in a research note on Monday. Bank of America raised Allegion from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $164.00 to $200.00 in a report on Friday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Allegion from $170.00 to $183.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.60.

Allegion Price Performance

The company has a 50-day simple moving average of $157.52 and a 200-day simple moving average of $150.56. The company has a market cap of $15.56 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 3.59 and a beta of 0.81. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.24 and a current ratio of 1.90.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.10. Allegion had a return on equity of 35.52% and a net margin of 15.74%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company earned $2.30 earnings per share. Allegion’s revenue was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Allegion PLC will post 9.10 earnings per share for the current year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Allegion’s dividend payout ratio (DPR) is 27.40%.

Insider Buying and Selling at Allegion

In other Allegion news, Director Steven Mizell acquired 170 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was bought at an average price of $158.28 per share, with a total value of $26,907.60. Following the completion of the transaction, the director directly owned 5,899 shares of the company’s stock, valued at approximately $933,693.72. The trade was a 2.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Vincent Wenos sold 1,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $168.25, for a total value of $168,250.00. Following the completion of the sale, the senior vice president owned 12,096 shares of the company’s stock, valued at approximately $2,035,152. This trade represents a 7.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,833 shares of company stock worth $2,104,090 in the last quarter. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALLE. Evergreen Capital Management LLC bought a new stake in Allegion in the third quarter worth $3,023,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Allegion by 5,141.6% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 11,846 shares of the scientific and technical instruments company’s stock valued at $1,822,000 after purchasing an additional 11,620 shares during the period. Andra AP fonden lifted its stake in shares of Allegion by 382.8% in the second quarter. Andra AP fonden now owns 69,945 shares of the scientific and technical instruments company’s stock worth $9,827,000 after buying an additional 55,459 shares during the last quarter. Regents Gate Capital LLP boosted its holdings in shares of Allegion by 291.7% during the 1st quarter. Regents Gate Capital LLP now owns 165,622 shares of the scientific and technical instruments company’s stock worth $24,063,000 after buying an additional 123,343 shares during the period. Finally, GAMMA Investing LLC grew its stake in Allegion by 1,653.5% in the 3rd quarter. GAMMA Investing LLC now owns 33,018 shares of the scientific and technical instruments company’s stock valued at $5,077,000 after buying an additional 31,135 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Company Profile

Allegion plc (NYSE:ALLE) is a global security products and solutions company focused on protecting people and property. Its portfolio includes mechanical and electronic locks, access control systems, door closers, exit devices, door controls, and commercial doors and frames.

The company serves commercial, institutional, industrial, and residential customers through well-known brands including Schlage, Von Duprin, LCN, Steelcraft, Briton, and aptiQ. Its offerings range from traditional hardware to connected and electronic access solutions designed for offices, schools, healthcare facilities, multifamily properties, and homes.

Allegion was established as an independent public company in 2013 following its separation from Ingersoll Rand.