Robert W. Baird Cuts Allegion (NYSE:ALLE) Price Target to $144.00

Allegion (NYSE:ALLE - Free Report) had its price target reduced by Robert W. Baird from $152.00 to $144.00 in a research note published on Wednesday,Benzinga reports. Robert W. Baird currently has a neutral rating on the scientific and technical instruments company's stock.

A number of other analysts also recently issued reports on the company. Barclays dropped their price target on Allegion from $137.00 to $134.00 and set an "underweight" rating for the company in a research report on Wednesday, January 8th. Morgan Stanley initiated coverage on Allegion in a research report on Monday, January 6th. They issued an "equal weight" rating and a $137.00 target price for the company. StockNews.com downgraded Allegion from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company decreased their price target on Allegion from $152.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat.com, Allegion presently has a consensus rating of "Hold" and a consensus price target of $138.33.

Allegion Stock Performance

ALLE traded up $0.05 during trading hours on Wednesday, hitting $127.16. The stock had a trading volume of 863,497 shares, compared to its average volume of 879,184. The company's fifty day simple moving average is $131.32 and its 200 day simple moving average is $137.24. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10. The stock has a market cap of $10.97 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 3.99 and a beta of 1.11. The company has a quick ratio of 1.29, a current ratio of 2.04 and a debt-to-equity ratio of 1.32.

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

Allegion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This is a boost from Allegion's previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.60%. Allegion's payout ratio is 28.15%.

Insider Activity

In other news, CAO Nickolas A. Musial sold 403 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John H. Stone bought 7,500 shares of Allegion stock in a transaction dated Tuesday, December 3rd. The shares were acquired 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 trade represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Allegion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in Allegion in the third quarter worth $4,988,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Allegion by 4.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company's stock worth $26,724,000 after purchasing an additional 8,806 shares during the period. Qsemble Capital Management LP purchased a new stake in Allegion in the third quarter worth $891,000. Nordea Investment Management AB grew its stake in Allegion by 4.4% in the fourth quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company's stock worth $154,643,000 after purchasing an additional 49,176 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Allegion by 4.1% in the third 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 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.