Allegion (NYSE:ALLE) Shares Down 5% - Should You Sell?

Allegion plc (NYSE:ALLE - Get Free Report)'s share price traded down 5% during mid-day trading on Tuesday . The stock traded as low as $127.86 and last traded at $126.66. 157,059 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 802,278 shares. The stock had previously closed at $133.39.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a report on Wednesday. StockNews.com lowered shares of Allegion from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Robert W. Baird cut their price objective on Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a research report on Wednesday. Barclays cut their price objective on Allegion from $134.00 to $130.00 and set an "underweight" rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company cut their price objective on Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat, Allegion currently has an average rating of "Hold" and a consensus price target of $138.33.

Allegion Stock Up 0.0 %

The company's 50 day moving average price is $131.32 and its two-hundred day moving average price is $137.24. 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 results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $938.91 million. As a group, research analysts expect that Allegion plc 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. Shareholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.60%. This is a boost from Allegion's previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. Allegion's dividend payout ratio is presently 28.15%.

Insiders Place Their Bets

In related news, CEO John H. Stone purchased 7,500 shares of Allegion stock in a transaction dated 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 transaction, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value 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 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 owned by company insiders.

Institutional Investors Weigh In On Allegion

Several institutional investors have recently bought and sold shares of ALLE. Creative Planning boosted its stake in Allegion by 9.1% in the third quarter. Creative Planning now owns 11,865 shares of the scientific and technical instruments company's stock valued at $1,729,000 after acquiring an additional 988 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in Allegion in the third quarter valued at approximately $205,000. Blue Trust Inc. increased its holdings in shares of Allegion by 44.9% during the third quarter. Blue Trust Inc. now owns 500 shares of the scientific and technical instruments company's stock valued at $73,000 after acquiring an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Allegion by 55.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 726 shares of the scientific and technical instruments company's stock valued at $106,000 after acquiring an additional 258 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Allegion during the third quarter valued at about $201,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.