Allegion (NYSE:ALLE) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Allegion (NYSE:ALLE) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

ALLE has been the subject of several other research reports. Morgan Stanley started coverage on shares of Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price for the company. Barclays dropped their target price on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company reduced 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 boosted 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. Finally, Robert W. Baird increased their target price on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, Allegion presently has an average rating of “Hold” and an average price target of $140.83.

Allegion Stock Performance

Allegion stock opened at $133.51 on Friday. The company’s 50-day moving average price is $132.44 and its 200-day moving average price is $137.45. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The company has a market cap of $11.61 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 3.19 and a beta of 1.11. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10.

Allegion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 1.53%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio is currently 29.49%.

Insider Buying and Selling at Allegion

In related news, CEO John H. Stone bought 7,500 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the purchase, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Allegion by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company’s stock worth $1,400,688,000 after purchasing an additional 177,808 shares during the last quarter. Boston Partners grew its stake in Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock worth $616,503,000 after buying an additional 488,390 shares during the last quarter. State Street Corp increased its position in Allegion by 1.2% during the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock valued at $589,659,000 after buying an additional 49,929 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Allegion by 1.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company’s stock valued at $509,313,000 after buying an additional 38,377 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Allegion by 8.1% in the fourth quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after acquiring an additional 257,175 shares in the last quarter. Hedge funds and other 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.