Robert W. Baird Issues Positive Forecast for Allegion (NYSE:ALLE) Stock Price

Allegion (NYSE:ALLE - Get Free Report) had its target price boosted by equities research analysts at Robert W. Baird from $144.00 to $150.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the scientific and technical instruments company's stock. Robert W. Baird's price objective would indicate a potential upside of 9.25% from the stock's current price.

Several other research firms also recently issued reports on ALLE. Wells Fargo & Company reduced their price target on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Barclays boosted their price objective on Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a research report on Friday. StockNews.com lowered shares of Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Morgan Stanley increased their target price on shares of Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $140.40.

Allegion Trading Up 0.6 %

NYSE ALLE traded up $0.81 during mid-day trading on Friday, reaching $137.30. 918,573 shares of the stock were exchanged, compared to its average volume of 830,881. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. The stock has a 50 day simple moving average of $127.27 and a 200-day simple moving average of $133.61. Allegion has a one year low of $113.27 and a one year high of $156.10. The stock has a market cap of $11.83 billion, a P/E ratio of 20.13, a P/E/G ratio of 3.97 and a beta of 1.01.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.18. The firm had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The company's revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.55 earnings per share. On average, analysts anticipate that Allegion will post 7.77 EPS for the current year.

Insider Activity at Allegion

In other news, Director Gregg C. Sengstack acquired 8,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was acquired at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the acquisition, the director now owns 8,000 shares in the company, valued at $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tracy L. Kemp sold 2,032 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the sale, the senior vice president now directly owns 10,273 shares in the company, valued at $1,302,000.02. The trade was a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,224 shares of company stock worth $406,636 in the last 90 days. Company insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Allegion

Hedge funds have recently added to or reduced their stakes in the stock. Fiduciary Management Inc. WI purchased a new stake in shares of Allegion during the fourth quarter worth about $116,484,000. Norges Bank purchased a new position in shares of Allegion in the fourth quarter valued at $108,058,000. Lord Abbett & CO. LLC increased its position in Allegion by 96.8% in the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company's stock worth $244,063,000 after purchasing an additional 823,874 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Allegion during the fourth quarter valued at $65,175,000. Finally, Boston Partners lifted its position in Allegion by 11.6% during the fourth 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. 92.21% of the stock is currently 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.