Allegion (NYSE:ALLE) Price Target Raised to $150.00 at Mizuho

Allegion (NYSE:ALLE) had its target price increased by Mizuho from $135.00 to $150.00 in a report released on Thursday morning, Benzinga reports. Mizuho currently has a neutral rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Barclays upped their target price on shares of Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $133.80.

Allegion Price Performance

ALLE opened at $152.51 on Thursday. The company has a fifty day simple moving average of $140.10 and a 200 day simple moving average of $129.46. Allegion has a 12 month low of $95.94 and a 12 month high of $152.94. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The stock has a market cap of $13.34 billion, a P/E ratio of 24.88, a P/E/G ratio of 4.50 and a beta of 1.12.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The company had revenue of $965.60 million for the quarter, compared to the consensus estimate of $953.63 million. During the same period last year, the company earned $1.76 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts expect that Allegion will post 7.26 EPS for the current year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.26%. The ex-dividend date was Friday, September 20th. Allegion’s dividend payout ratio (DPR) is 31.32%.

Institutional Trading of Allegion

A number of institutional investors have recently modified their holdings of the stock. Boston Partners lifted its position in Allegion by 1.5% during the first quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock worth $673,441,000 after purchasing an additional 72,773 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Allegion by 2.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock worth $442,019,000 after acquiring an additional 91,011 shares during the period. Van ECK Associates Corp boosted its position in shares of Allegion by 2.8% during the 1st quarter. Van ECK Associates Corp now owns 3,306,600 shares of the scientific and technical instruments company’s stock worth $445,432,000 after acquiring an additional 90,951 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Allegion by 7.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock valued at $197,575,000 after acquiring an additional 120,870 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Allegion by 1.4% during the first quarter. Russell Investments Group Ltd. now owns 856,816 shares of the scientific and technical instruments company’s stock valued at $115,411,000 after purchasing an additional 11,947 shares in 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.