Allegion (NYSE:ALLE) Price Target Cut to $130.00 by Analysts at Barclays

Allegion (NYSE:ALLE - Get Free Report) had its price target decreased by research analysts at Barclays from $134.00 to $130.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "underweight" rating on the scientific and technical instruments company's stock. Barclays's price target suggests a potential upside of 2.24% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company reduced their price objective on Allegion from $152.00 to $140.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. StockNews.com cut Allegion from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Robert W. Baird reduced their price objective on Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Morgan Stanley assumed coverage on Allegion in a research report on Monday, January 6th. They set an "equal weight" rating and a $137.00 price objective for the company. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $138.33.

Allegion Stock Performance

Shares of NYSE:ALLE traded up $0.05 during midday trading on Wednesday, reaching $127.16. 863,497 shares of the company's stock traded hands, compared to its average volume of 879,184. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 3.99 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.29 and a current ratio of 2.04. Allegion has a one year low of $113.27 and a one year high of $156.10. The stock has a 50 day moving average of $131.32 and a 200 day moving average of $137.24.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.11. The firm had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. As a group, equities research analysts anticipate that Allegion will post 7.7 EPS for the current fiscal year.

Insider Buying and Selling

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 bought at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the purchase, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares of the company's stock, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allegion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Allegion during the third quarter valued at approximately $28,000. Concord Wealth Partners bought a new stake in shares of Allegion in the 3rd quarter valued at approximately $29,000. Millstone Evans Group LLC bought a new stake in shares of Allegion in the 4th quarter valued at approximately $28,000. Cromwell Holdings LLC lifted its stake in shares of Allegion by 65.2% in the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company's stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. Finally, Colonial Trust Co SC lifted its stake in shares of Allegion by 192.9% in the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock valued at $33,000 after purchasing an additional 164 shares during the last quarter. 92.21% of the stock is 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.