Barclays Lowers Allegion (NYSE:ALLE) Price Target to $134.00

Allegion (NYSE:ALLE - Get Free Report) had its target price lowered by research analysts at Barclays from $137.00 to $134.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the scientific and technical instruments company's stock. Barclays's price objective suggests a potential upside of 4.34% from the company's previous close.

Several other equities analysts also recently issued reports on ALLE. Mizuho upped their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Wells Fargo & Company decreased their target price on Allegion from $152.00 to $140.00 and set an "equal weight" rating for the company in a report on Tuesday. Robert W. Baird upped their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Finally, Morgan Stanley started coverage on shares of Allegion in a research report on Monday. They issued an "equal weight" rating and a $137.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Allegion has a consensus rating of "Hold" and a consensus target price of $140.83.

Allegion Price Performance

Shares of ALLE stock traded up $1.01 during midday trading on Wednesday, reaching $128.43. 1,077,087 shares of the company traded hands, compared to its average volume of 760,537. The firm's 50 day simple moving average is $137.65 and its two-hundred day simple moving average is $135.80. The firm has a market cap of $11.16 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

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

Insider Activity at Allegion

In other Allegion news, CEO John H. Stone purchased 7,500 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were bought 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 in the company, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert C. Martens sold 8,035 shares of the business's stock in a transaction on Friday, October 25th. The stock was 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 owns 7,104 shares of the company's stock, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

Institutional Trading of Allegion

A number of hedge funds and other institutional investors have recently modified their holdings of ALLE. TD Asset Management Inc lifted its stake in Allegion by 2.2% during the second quarter. TD Asset Management Inc now owns 24,311 shares of the scientific and technical instruments company's stock valued at $2,872,000 after purchasing an additional 521 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Allegion during the second quarter worth $1,327,000. Prudential PLC lifted its holdings in shares of Allegion by 13.1% during the second quarter. Prudential PLC now owns 28,844 shares of the scientific and technical instruments company's stock valued at $3,408,000 after purchasing an additional 3,348 shares during the last quarter. LGT Group Foundation acquired a new position in shares of Allegion in the 2nd quarter valued at $419,000. Finally, Royal London Asset Management Ltd. increased its stake in Allegion by 1.4% in the 2nd quarter. Royal London Asset Management Ltd. now owns 32,972 shares of the scientific and technical instruments company's stock worth $3,896,000 after purchasing an additional 456 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

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.