Allegion (NYSE:ALLE) Research Coverage Started at Morgan Stanley

Morgan Stanley began coverage on shares of Allegion (NYSE:ALLE) in a report released on Monday morning, MarketBeat reports. The firm issued an equal weight rating and a $137.00 target price on the scientific and technical instruments company’s stock.

ALLE has been the topic of a number of other research reports. Barclays raised their price target on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. Wells Fargo & Company raised their price target on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Mizuho raised their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird raised their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $140.83.

Allegion Stock Up 0.8 %

ALLE stock opened at $128.43 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 3.35 and a beta of 1.11. The business’s fifty day moving average price is $137.65 and its two-hundred day moving average price is $135.80. Allegion has a fifty-two week low of $113.27 and a fifty-two week high of $156.10.

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

Allegion Dividend Announcement

The firm 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 annualized dividend and a yield of 1.49%. The ex-dividend date was Tuesday, December 17th. Allegion’s dividend payout ratio (DPR) is presently 29.49%.

Insider Activity at Allegion

In related news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the sale, the senior vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO John H. Stone purchased 7,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the purchase, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Allegion

Hedge funds have recently made changes to their positions in the company. McClarren Financial Advisors Inc. lifted its stake in shares of Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 72 shares during the period. Brooklyn Investment Group acquired a new position in shares of Allegion in the third quarter worth approximately $28,000. Concord Wealth Partners acquired a new position in shares of Allegion in the third quarter worth approximately $29,000. Cromwell Holdings LLC lifted its stake in shares of Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 92 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Allegion by 66.2% in the third quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock worth $47,000 after acquiring an additional 129 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

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.