Allegion plc (NYSE:ALLE) Given Consensus Recommendation of "Reduce" by Brokerages

Shares of Allegion plc (NYSE:ALLE - Get Free Report) have received an average rating of "Reduce" from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $140.83.

ALLE has been the subject of several research reports. Barclays cut their price objective on shares of Allegion from $137.00 to $134.00 and set an "underweight" rating for the company in a research report on Wednesday. Robert W. Baird lifted their price target on Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. Mizuho upped their price objective on Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Wells Fargo & Company lowered their price objective on Allegion from $152.00 to $140.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley initiated coverage on shares of Allegion in a research report on Monday, January 6th. They issued an "equal weight" rating and a $137.00 target price for the company.

Allegion Stock Performance

NYSE:ALLE traded down $2.21 on Friday, hitting $126.19. The company's stock had a trading volume of 741,504 shares, compared to its average volume of 762,017. Allegion has a one year low of $113.27 and a one year high of $156.10. The firm has a market capitalization of $10.97 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11. The stock has a fifty day moving average of $136.94 and a two-hundred day moving average of $136.04. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. During the same quarter last year, the firm posted $1.94 EPS. The company's quarterly revenue was up 5.4% on a year-over-year basis. Research analysts predict that Allegion will post 7.41 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Tuesday, December 17th. Allegion's dividend payout ratio (DPR) is currently 29.49%.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the transaction, the senior vice president now directly owns 7,104 shares of the company's stock, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John H. Stone acquired 7,500 shares of the stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the transaction, the chief executive officer now owns 120,481 shares of the company's stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Institutional Trading of Allegion

Large investors have recently bought and sold shares of the business. McClarren Financial Advisors Inc. grew its stake in shares of Allegion by 61.0% during the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company's stock worth $27,000 after buying an additional 72 shares during the last quarter. TD Private Client Wealth LLC grew its position in Allegion by 0.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company's stock worth $2,871,000 after acquiring an additional 77 shares during the last quarter. Greenwich Wealth Management LLC increased its holdings in Allegion by 0.5% in the 2nd quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company's stock worth $1,761,000 after purchasing an additional 79 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in Allegion by 2.9% in the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company's stock valued at $425,000 after purchasing an additional 82 shares during the last quarter. Finally, Thrive Wealth Management LLC boosted its stake in shares of Allegion by 5.0% during the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company's stock valued at $269,000 after purchasing an additional 88 shares in the last quarter. 92.21% of the stock is 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.