Allegion (NYSE:ALLE) Given New $140.00 Price Target at Wells Fargo & Company

Allegion (NYSE:ALLE) had its target price reduced by Wells Fargo & Company from $152.00 to $140.00 in a research report report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also commented on the company. Morgan Stanley initiated coverage on Allegion in a research report on Monday. They set an “equal weight” rating and a $137.00 price objective for the company. Robert W. Baird raised their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Mizuho boosted their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays increased their price objective on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Allegion currently has an average rating of “Hold” and an average price target of $141.33.

Allegion Trading Down 1.4 %

Shares of NYSE:ALLE opened at $127.30 on Tuesday. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a 50 day moving average price of $137.90 and a 200 day moving average price of $135.72. The stock has a market capitalization of $11.07 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 3.35 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. During the same period in the prior year, the business posted $1.94 earnings per share. Allegion’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Allegion will post 7.41 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Tuesday, December 17th. Allegion’s payout ratio is 29.49%.

Insider Buying and Selling

In other news, CEO John H. Stone bought 7,500 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the sale, the senior vice president now owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALLE. Public Employees Retirement System of Ohio bought a new stake in shares of Allegion in the third quarter valued at approximately $4,988,000. Renaissance Technologies LLC bought a new stake in Allegion in the 2nd quarter valued at $27,056,000. Andra AP fonden acquired a new stake in Allegion in the 2nd quarter worth $10,704,000. Qsemble Capital Management LP acquired a new stake in Allegion in the 3rd quarter worth $891,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Allegion by 4.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock worth $1,260,000 after purchasing an additional 340 shares during the period. 92.21% of the stock is owned by institutional investors.

Allegion Company Profile

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.