Allegion (NYSE:ALLE) Price Target Cut to $140.00 by Analysts at Wells Fargo & Company

Allegion (NYSE:ALLE - Free Report) had its target price decreased by Wells Fargo & Company from $152.00 to $140.00 in a report issued on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the scientific and technical instruments company's stock.

Other equities research analysts have also issued research reports about the stock. Mizuho increased their price objective 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. Robert W. Baird lifted their price objective on Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. Barclays increased their price target on shares of Allegion from $135.00 to $137.00 and gave the stock an "underweight" rating in a report on Monday, October 28th. Finally, Morgan Stanley began coverage on Allegion in a report on Monday. They set an "equal weight" rating and a $137.00 price objective for the company. One 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $141.33.

Allegion Trading Down 1.4 %

ALLE stock traded down $1.82 during mid-day trading on Tuesday, reaching $127.30. The company's stock had a trading volume of 902,920 shares, compared to its average volume of 700,405. Allegion has a 12 month low of $113.27 and a 12 month 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. The business's 50 day moving average price is $137.90 and its 200 day moving average price is $135.72. The company has a market cap of $11.07 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.18. The firm had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business's revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.94 earnings per share. On average, equities research analysts predict that Allegion will post 7.41 EPS 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 dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.92 annualized dividend and a yield of 1.51%. Allegion's dividend payout ratio is presently 29.49%.

Insider Buying and Selling

In other Allegion news, CEO John H. Stone bought 7,500 shares of Allegion stock in a transaction on Tuesday, December 3rd. The stock was bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction on Friday, October 25th. The shares were 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 owns 7,104 shares in the company, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Institutional Trading of Allegion

A number of hedge funds have recently bought and sold shares of ALLE. McClarren Financial Advisors Inc. raised its holdings in Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company's stock valued at $27,000 after acquiring an additional 72 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Allegion by 0.4% during the third quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company's stock worth $2,871,000 after buying an additional 77 shares in the last quarter. Greenwich Wealth Management LLC increased its holdings in Allegion by 0.5% in the 2nd quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company's stock valued at $1,761,000 after buying an additional 79 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of Allegion by 2.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company's stock worth $425,000 after acquiring an additional 82 shares during the period. Finally, Thrive Wealth Management LLC lifted its stake in Allegion by 5.0% during the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company's stock worth $269,000 after purchasing an additional 88 shares during the period. 92.21% of the stock is owned by hedge funds and other 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.