Morgan Stanley Raises Allegion (NYSE:ALLE) Price Target to $139.00

Allegion (NYSE:ALLE - Free Report) had its target price increased by Morgan Stanley from $137.00 to $139.00 in a report published on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the scientific and technical instruments company's stock.

Other equities research analysts have also issued reports about the company. Barclays reduced their price target on Allegion from $134.00 to $130.00 and set an "underweight" rating for the company in a report on Wednesday. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Wells Fargo & Company reduced their price target on Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, Robert W. Baird reduced their price target on Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $138.33.

Allegion Trading Up 0.0 %

ALLE traded up $0.05 during trading on Wednesday, reaching $127.16. The company had a trading volume of 871,149 shares, compared to its average volume of 890,566. The firm's 50-day simple moving average is $131.32 and its 200 day simple moving average is $137.24. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 3.99 and a beta of 1.11. Allegion has a 12-month low of $113.27 and a 12-month high of $156.10. 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 (NYSE:ALLE - Get Free Report) last released its 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 return on equity of 45.12% and a net margin of 15.84%. The company had revenue of $945.60 million for the quarter, compared to analysts' expectations of $938.91 million. Equities research analysts anticipate that Allegion will post 7.7 earnings per share for the current year.

Allegion Increases Dividend

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

Insider Transactions at Allegion

In other Allegion news, Director Gregg C. Sengstack purchased 8,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was bought at an average cost of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the acquisition, the director now directly owns 8,000 shares in the company, valued at $1,001,920. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John H. Stone purchased 7,500 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were acquired 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 of the company's stock, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALLE. Exchange Traded Concepts LLC acquired a new position in shares of Allegion during the third quarter worth approximately $94,000. Creative Planning increased its position in shares of Allegion by 9.1% during 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 purchasing an additional 988 shares during the period. Bleakley Financial Group LLC bought a new stake in shares of Allegion during the third quarter valued at approximately $205,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Allegion by 4.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company's stock valued at $1,260,000 after purchasing an additional 340 shares during the period. Finally, Blue Trust Inc. increased its position 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 purchasing an additional 155 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.