Allegion (NYSE:ALLE) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Allegion (NYSE:ALLE - Free Report) from a buy rating to a hold rating in a report released on Friday morning.

Several other equities analysts have also recently weighed in on ALLE. Robert W. Baird raised their target price on shares of Allegion from $145.00 to $152.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Mizuho raised their target price on shares of Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Wells Fargo & Company cut their target price on shares of Allegion from $152.00 to $140.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Morgan Stanley started coverage on shares of Allegion in a research note on Monday, January 6th. They set an "equal weight" rating and a $137.00 target price for the company. Finally, Barclays dropped their price objective on shares of Allegion from $137.00 to $134.00 and set an "underweight" rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $140.83.

Allegion Price Performance

ALLE traded up $0.36 during trading on Friday, hitting $133.51. 1,354,576 shares of the company traded hands, compared to its average volume of 708,372. The company has a market cap of $11.61 billion, a PE ratio of 20.51, a P/E/G ratio of 3.19 and a beta of 1.11. The stock's 50-day simple moving average is $132.14 and its two-hundred day simple moving average is $137.42. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

Allegion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. This is a boost from Allegion's previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, March 14th. Allegion's dividend payout ratio (DPR) is presently 29.49%.

Insiders Place Their Bets

In other news, CEO John H. Stone purchased 7,500 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the purchase, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company's stock.

Hedge Funds Weigh In On Allegion

A number of large investors have recently made changes to their positions in ALLE. Fiduciary Management Inc. WI purchased a new position in shares of Allegion during the 4th quarter worth about $116,484,000. Norges Bank purchased a new position in shares of Allegion during the 4th quarter worth about $108,058,000. Lord Abbett & CO. LLC boosted its stake in shares of Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company's stock worth $244,063,000 after purchasing an additional 823,874 shares during the period. Raymond James Financial Inc. bought a new stake in Allegion during the 4th quarter valued at about $65,175,000. Finally, Boston Partners lifted its holdings in Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company's stock valued at $616,503,000 after buying an additional 488,390 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other 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.