Allegion (NYSE:ALLE) Shares Gap Down - Time to Sell?

Shares of Allegion plc (NYSE:ALLE - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $150.86, but opened at $142.34. Allegion shares last traded at $143.65, with a volume of 137,472 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho raised their target price on Allegion from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on Allegion from $137.00 to $152.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Barclays increased their target price on shares of Allegion from $117.00 to $135.00 and gave the stock an "underweight" rating in a report on Wednesday, October 2nd. Finally, StockNews.com raised shares of Allegion from a "hold" rating to a "buy" rating in a report on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $142.25.

Allegion Price Performance

The firm has a 50-day moving average of $141.86 and a 200-day moving average of $130.00. The stock has a market cap of $12.70 billion, a PE ratio of 23.63, a PEG ratio of 4.50 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm had revenue of $965.60 million for the quarter, compared to analysts' expectations of $953.63 million. During the same quarter last year, the business posted $1.76 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts predict that Allegion plc will post 7.26 EPS for the current year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.32%. The ex-dividend date was Friday, September 20th. Allegion's payout ratio is currently 31.32%.

Hedge Funds Weigh In On Allegion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLE. State of Alaska Department of Revenue lifted its position in Allegion by 6.4% during the third quarter. State of Alaska Department of Revenue now owns 10,128 shares of the scientific and technical instruments company's stock valued at $1,476,000 after purchasing an additional 605 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Allegion during the 3rd quarter valued at about $229,000. Clear Harbor Asset Management LLC bought a new position in shares of Allegion in the 3rd quarter valued at about $211,000. Wealth Enhancement Advisory Services LLC grew its position in Allegion by 22.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,076 shares of the scientific and technical instruments company's stock worth $594,000 after acquiring an additional 757 shares in the last quarter. Finally, Forsta AP Fonden increased its stake in Allegion by 9.3% during the third quarter. Forsta AP Fonden now owns 36,500 shares of the scientific and technical instruments company's stock worth $5,320,000 after acquiring an additional 3,100 shares during the last quarter. 92.21% of the stock is owned by 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.