Allegion PLC (ALLE) Given Consensus Rating of “Hold” by Analysts

Allegion PLC (NYSE:ALLE) has received a consensus recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $97.80.

A number of research analysts recently commented on ALLE shares. ValuEngine raised Allegion from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Zacks Investment Research upgraded shares of Allegion from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Morgan Stanley set a $92.00 target price on shares of Allegion and gave the company a “hold” rating in a research note on Wednesday, February 20th. Imperial Capital reaffirmed an “in-line” rating and set a $102.00 target price (up previously from $96.00) on shares of Allegion in a research note on Monday, April 29th. Finally, Goldman Sachs Group downgraded shares of Allegion from a “buy” rating to a “neutral” rating and decreased their target price for the company from $98.00 to $92.00 in a research note on Wednesday, February 20th.

In related news, SVP Jeffrey N. Braun sold 2,211 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $90.29, for a total transaction of $199,631.19. Following the completion of the sale, the senior vice president now owns 11,292 shares of the company’s stock, valued at $1,019,554.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Chris E. Muhlenkamp sold 12,034 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $88.96, for a total transaction of $1,070,544.64. Following the sale, the vice president now directly owns 27,289 shares of the company’s stock, valued at approximately $2,427,629.44. The disclosure for this sale can be found here. Insiders have sold 72,486 shares of company stock valued at $6,459,845 in the last three months. 0.77% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ALLE. Man Group plc acquired a new position in shares of Allegion during the third quarter valued at $2,215,000. Mackenzie Financial Corp bought a new stake in shares of Allegion in the third quarter worth about $251,000. Kentucky Retirement Systems bought a new stake in shares of Allegion in the third quarter worth about $326,000. Teachers Advisors LLC increased its holdings in shares of Allegion by 1.3% in the third quarter. Teachers Advisors LLC now owns 133,398 shares of the scientific and technical instruments company’s stock worth $12,082,000 after acquiring an additional 1,678 shares in the last quarter. Finally, Nordea Investment Management AB bought a new stake in shares of Allegion in the third quarter worth about $83,058,000. 96.52% of the stock is owned by institutional investors.

ALLE traded up $0.48 during trading on Thursday, reaching $100.10. The stock had a trading volume of 846,306 shares, compared to its average volume of 728,616. The stock has a market cap of $9.40 billion, a PE ratio of 22.24, a P/E/G ratio of 1.91 and a beta of 1.20. The company has a quick ratio of 1.14, a current ratio of 1.75 and a debt-to-equity ratio of 2.20. Allegion has a one year low of $74.83 and a one year high of $102.39.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.01. The business had revenue of $655.00 million for the quarter, compared to analysts’ expectations of $654.66 million. Allegion had a return on equity of 72.88% and a net margin of 15.97%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, equities analysts anticipate that Allegion will post 4.85 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion’s dividend payout ratio (DPR) is currently 24.00%.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.

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Analyst Recommendations for Allegion (NYSE:ALLE)

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