Allegion plc (NYSE:ALLE) Given Average Rating of “Reduce” by Analysts

Allegion plc (NYSE:ALLE) has been given a consensus recommendation of “Reduce” by the six analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $140.83.

ALLE has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird raised their price objective on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Barclays decreased their target price on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley began coverage on Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price target for the company. Finally, StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Thursday, February 6th.

Insider Buying and Selling at Allegion

In other news, CEO John H. Stone bought 7,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the acquisition, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Several large investors have recently made changes to their positions in ALLE. McClarren Financial Advisors Inc. raised its position in Allegion by 61.0% during the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Allegion in the 3rd quarter valued at $28,000. Concord Wealth Partners acquired a new position in shares of Allegion during the 3rd quarter worth $29,000. Cromwell Holdings LLC lifted its position in shares of Allegion by 65.2% during the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 92 shares during the last quarter. Finally, Atala Financial Inc acquired a new stake in Allegion in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Trading Up 1.4 %

Shares of Allegion stock opened at $130.53 on Thursday. 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 business has a fifty day simple moving average of $133.15 and a two-hundred day simple moving average of $137.57. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 3.19 and a beta of 1.11.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 1.56%. This is an increase from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio is currently 31.34%.

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.