Allegion PLC (ALLE) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Allegion PLC (NYSE:ALLE) have received an average rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $91.33.
A number of equities research analysts recently weighed in on ALLE shares. BidaskClub raised Allegion from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Robert W. Baird reaffirmed a “hold” rating on shares of Allegion in a report on Tuesday, September 26th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $100.00 price target (up from $90.00) on shares of Allegion in a report on Wednesday, October 18th. Wolfe Research raised Allegion from a “market perform” rating to an “outperform” rating in a report on Monday, October 30th. Finally, Zacks Investment Research cut Allegion from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd.
Shares of Allegion (NYSE ALLE) traded up $1.78 during mid-day trading on Friday, hitting $84.38. The company’s stock had a trading volume of 987,900 shares, compared to its average volume of 891,150. The company has a debt-to-equity ratio of 3.79, a current ratio of 2.14 and a quick ratio of 1.54. Allegion has a 52 week low of $64.62 and a 52 week high of $89.81. The company has a market cap of $7,850.00, a P/E ratio of 23.97, a P/E/G ratio of 1.37 and a beta of 1.08.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, December 15th. This represents a $0.64 annualized dividend and a yield of 0.76%. Allegion’s dividend payout ratio is presently 18.18%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. QS Investors LLC boosted its holdings in shares of Allegion by 1.2% during the second quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock worth $106,000 after acquiring an additional 16 shares during the period. Thrivent Financial For Lutherans increased its stake in Allegion by 3.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 3,621 shares of the scientific and technical instruments company’s stock valued at $294,000 after buying an additional 120 shares during the last quarter. Suntrust Banks Inc. increased its stake in Allegion by 5.5% in the 2nd quarter. Suntrust Banks Inc. now owns 2,923 shares of the scientific and technical instruments company’s stock valued at $236,000 after buying an additional 153 shares during the last quarter. Norinchukin Bank The increased its stake in Allegion by 6.6% in the 2nd quarter. Norinchukin Bank The now owns 6,612 shares of the scientific and technical instruments company’s stock valued at $536,000 after buying an additional 407 shares during the last quarter. Finally, Sentry Investment Management LLC increased its stake in Allegion by 12.4% in the 2nd quarter. Sentry Investment Management LLC now owns 4,516 shares of the scientific and technical instruments company’s stock valued at $366,000 after buying an additional 497 shares during the last quarter. 89.37% of the stock is currently owned by hedge funds and other institutional investors.
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Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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