Allegion (NYSE:ALLE) Rating Lowered to Hold at StockNews.com

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

Other equities analysts also recently issued reports about the company. UBS Group raised their price objective on Allegion from $113.00 to $132.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Wells Fargo & Company dropped their price target on Allegion from $141.00 to $125.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. Finally, Barclays decreased their price objective on shares of Allegion from $116.00 to $112.00 and set an underweight rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, Allegion presently has a consensus rating of Hold and a consensus price target of $123.67.

Allegion Stock Performance

NYSE:ALLE opened at $124.10 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.31 and a debt-to-equity ratio of 1.18. Allegion has a fifty-two week low of $95.94 and a fifty-two week high of $136.91. The firm’s fifty day simple moving average is $119.85 and its 200-day simple moving average is $125.00. The stock has a market cap of $10.85 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 3.90 and a beta of 1.13.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The company had revenue of $893.90 million for the quarter, compared to analyst estimates of $888.27 million. During the same period in the prior year, the business posted $1.58 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts expect that Allegion will post 7.09 earnings per share for the current fiscal year.

Insider Activity at Allegion

In related news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total value of $267,624.12. Following the completion of the transaction, the senior vice president now owns 11,103 shares of the company’s stock, valued at approximately $1,354,343.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Several hedge funds and other institutional investors have recently bought and sold shares of ALLE. Raymond James Trust N.A. grew its position in shares of Allegion by 74.3% in the fourth quarter. Raymond James Trust N.A. now owns 5,102 shares of the scientific and technical instruments company’s stock valued at $646,000 after purchasing an additional 2,175 shares during the period. HB Wealth Management LLC acquired a new stake in Allegion in the 4th quarter worth about $201,000. Raymond James & Associates grew its holdings in Allegion by 6.6% in the 4th quarter. Raymond James & Associates now owns 384,172 shares of the scientific and technical instruments company’s stock valued at $48,671,000 after buying an additional 23,762 shares during the period. CVA Family Office LLC acquired a new position in shares of Allegion during the 4th quarter valued at about $28,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Allegion by 3.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,905 shares of the scientific and technical instruments company’s stock worth $621,000 after acquiring an additional 183 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.