Allegion plc (NYSE:ALLE) Given Average Recommendation of “Reduce” by Brokerages

Shares of Allegion plc (NYSE:ALLE) have earned a consensus rating of “Reduce” from the five brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $140.40.

Several research firms have issued reports on ALLE. Barclays boosted their price objective on Allegion from $126.00 to $128.00 and gave the stock an “underweight” rating in a report on Friday, April 25th. Wells Fargo & Company dropped their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Morgan Stanley boosted their price target on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Wall Street Zen cut Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Robert W. Baird upped their target price on Allegion from $144.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th.

Allegion Trading Up 0.0%

Shares of NYSE:ALLE opened at $139.61 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 3.97 and a beta of 1.02. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a 50 day moving average price of $135.52 and a 200 day moving average price of $133.07.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.18. The business had revenue of $941.90 million during the quarter, compared to analyst estimates of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $1.55 EPS. On average, research analysts anticipate that Allegion will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 1.46%. Allegion’s dividend payout ratio is 28.65%.

Institutional Investors Weigh In On Allegion

Several hedge funds have recently modified their holdings of ALLE. Fiduciary Management Inc. WI bought a new stake in Allegion in the fourth quarter valued at about $116,484,000. AQR Capital Management LLC lifted its position in shares of Allegion by 380.0% during the first quarter. AQR Capital Management LLC now owns 1,118,960 shares of the scientific and technical instruments company’s stock worth $142,707,000 after purchasing an additional 885,857 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Allegion by 22.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company’s stock worth $623,104,000 after purchasing an additional 878,796 shares during the period. Norges Bank acquired a new stake in Allegion in the fourth quarter worth about $108,058,000. Finally, Raymond James Financial Inc. acquired a new stake in Allegion in the fourth quarter worth about $65,175,000. 92.21% of the stock is owned by 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.