Allegion (NYSE:ALLE) Cut to "Hold" at StockNews.com

Allegion (NYSE:ALLE - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday.

ALLE has been the subject of several other research reports. Robert W. Baird upped their price objective on shares of Allegion from $145.00 to $152.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Wells Fargo & Company lowered their price target on Allegion from $152.00 to $140.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Mizuho upped their price objective on Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Morgan Stanley began coverage on shares of Allegion in a research report on Monday, January 6th. They set an "equal weight" rating and a $137.00 price objective for the company. Finally, Barclays lowered their target price on shares of Allegion from $137.00 to $134.00 and set an "underweight" rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, Allegion presently has a consensus rating of "Hold" and a consensus price target of $140.83.

Allegion Price Performance

NYSE ALLE traded up $1.13 during trading hours on Thursday, hitting $133.31. 704,271 shares of the company's stock traded hands, compared to its average volume of 708,369. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The firm's 50-day moving average is $135.39 and its 200-day moving average is $136.79. Allegion has a 52-week low of $113.27 and a 52-week high of $156.10. The company has a market capitalization of $11.59 billion, a PE ratio of 20.48, a PEG ratio of 3.34 and a beta of 1.11.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.18. The business 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 business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.94 EPS. Equities analysts forecast that Allegion will post 7.41 EPS for the current fiscal year.

Insider Activity

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 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 completion of the transaction, the senior vice president now directly owns 7,104 shares of the company's stock, valued at approximately $1,029,511.68. The trade was 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 Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mediolanum International Funds Ltd raised its position in Allegion by 2.6% in the fourth quarter. Mediolanum International Funds Ltd now owns 42,753 shares of the scientific and technical instruments company's stock worth $5,586,000 after acquiring an additional 1,077 shares in the last quarter. OLD National Bancorp IN raised its holdings in shares of Allegion by 13.4% in the 4th quarter. OLD National Bancorp IN now owns 4,225 shares of the scientific and technical instruments company's stock worth $552,000 after purchasing an additional 500 shares in the last quarter. DMC Group LLC grew its holdings in shares of Allegion by 29.0% in the 4th quarter. DMC Group LLC now owns 3,868 shares of the scientific and technical instruments company's stock worth $505,000 after acquiring an additional 870 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Allegion by 320.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 113,218 shares of the scientific and technical instruments company's stock worth $14,795,000 after acquiring an additional 86,266 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Allegion by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,737 shares of the scientific and technical instruments company's stock worth $1,011,000 after purchasing an additional 1,123 shares during the period. Institutional investors and hedge funds 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.