Allegion (NYSE:ALLE) Price Target Raised to $181.00

Allegion (NYSE:ALLE) had its price target hoisted by Morgan Stanley from $170.00 to $181.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the scientific and technical instruments company’s stock.

ALLE has been the subject of several other research reports. Evercore reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Allegion in a report on Tuesday, September 22nd. JPMorgan Chase & Co. raised their price target on Allegion from $170.00 to $183.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Weiss Ratings upgraded Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Bank of America raised Allegion from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $164.00 to $200.00 in a research note on Friday, October 23rd. Finally, The Goldman Sachs Group upped their price objective on Allegion from $182.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $180.70.

Allegion Price Performance

Shares of NYSE:ALLE opened at $187.53 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24. Allegion has a 1-year low of $125.00 and a 1-year high of $195.42. The company has a market capitalization of $15.81 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.17 and a beta of 0.82. The firm’s 50 day simple moving average is $160.83 and its two-hundred day simple moving average is $151.36.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.10. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.14 billion. Allegion had a net margin of 15.74% and a return on equity of 35.52%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.30 earnings per share. Research analysts expect that Allegion will post 9.10 EPS for the current fiscal year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued 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 payout ratio is 27.40%.

Insider Transactions at Allegion

In related news, Director Steven Mizell purchased 170 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were acquired at an average price of $158.28 per share, for a total transaction of $26,907.60. Following the purchase, the director directly owned 5,899 shares in the company, valued at $933,693.72. This trade represents a 2.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy Eckersley sold 6,364 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $178.62, for a total transaction of $1,136,737.68. Following the transaction, the senior vice president directly owned 22,028 shares of the company’s stock, valued at $3,934,641.36. This trade represents a 22.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Allegion

Several large investors have recently made changes to their positions in ALLE. International Assets Investment Management LLC raised its stake in shares of Allegion by 30,063.6% in the third quarter. International Assets Investment Management LLC now owns 869,012 shares of the scientific and technical instruments company’s stock valued at $133,628,000 after acquiring an additional 866,131 shares during the period. M&G PLC lifted its holdings in shares of Allegion by 1,426.2% in the 3rd quarter. M&G PLC now owns 474,160 shares of the scientific and technical instruments company’s stock worth $72,912,000 after acquiring an additional 443,091 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Allegion by 964.6% during the 2nd quarter. Wellington Management Group LLP now owns 356,725 shares of the scientific and technical instruments company’s stock worth $50,116,000 after purchasing an additional 323,218 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Allegion by 2,372.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 256,374 shares of the scientific and technical instruments company’s stock worth $39,423,000 after purchasing an additional 246,004 shares during the period. Finally, Hawk Ridge Capital Management LP boosted its stake in shares of Allegion by 32.9% during the 1st quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock worth $116,640,000 after purchasing an additional 198,800 shares during the period. 92.21% of the stock is owned by institutional investors.

About Allegion

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.