Allegion (NYSE:ALLE) Given New $135.00 Price Target at Wells Fargo & Company

Allegion (NYSE:ALLE - Get Free Report) had its target price lowered by research analysts at Wells Fargo & Company from $140.00 to $135.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the scientific and technical instruments company's stock. Wells Fargo & Company's price target would suggest a potential upside of 6.17% from the company's current price.

A number of other equities analysts have also weighed in on the stock. Barclays lowered their price objective on shares of Allegion from $134.00 to $130.00 and set an "underweight" rating on the stock in a research report on Wednesday. StockNews.com lowered shares of Allegion from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Robert W. Baird decreased their target price on shares of Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Morgan Stanley started coverage on shares of Allegion in a research report on Monday, January 6th. They set an "equal weight" rating and a $137.00 target price on the stock. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $138.33.

Allegion Stock Performance

NYSE:ALLE traded up $0.05 during midday trading on Wednesday, reaching $127.16. The stock had a trading volume of 863,497 shares, compared to its average volume of 879,184. The firm has a fifty day simple moving average of $131.32 and a two-hundred day simple moving average of $137.24. Allegion has a 12-month low of $113.27 and a 12-month high of $156.10. The company has a quick ratio of 1.29, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The stock has a market cap of $10.97 billion, a P/E ratio of 18.64, a P/E/G ratio of 3.99 and a beta of 1.11.

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

Insider Transactions at Allegion

In other news, CEO John H. Stone purchased 7,500 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the purchase, the chief executive officer now directly owns 120,481 shares of the company's stock, valued at $16,951,676.70. This represents a 6.64 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Nickolas A. Musial sold 403 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the transaction, the chief accounting officer now directly owns 4,972 shares of the company's stock, valued at $620,008.40. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Allegion by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company's stock valued at $1,400,688,000 after purchasing an additional 177,808 shares during the last quarter. Boston Partners raised its stake in Allegion by 11.6% in 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 purchasing an additional 488,390 shares during the last quarter. State Street Corp raised its stake in Allegion by 1.2% in the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company's stock valued at $589,659,000 after purchasing an additional 49,929 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Allegion by 1.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company's stock valued at $509,313,000 after purchasing an additional 38,377 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Allegion by 8.1% in the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company's stock valued at $449,033,000 after buying an additional 257,175 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

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.