StockNews.com Downgrades Allegion (NYSE:ALLE) to Hold

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

Other equities research analysts have also issued research reports about the company. Barclays dropped 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 shares of Allegion in a research note on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price objective on the stock. Wells Fargo & Company decreased 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 report on Tuesday, January 7th. Mizuho increased their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird boosted their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $140.83.

Allegion Stock Up 0.3 %

Allegion stock opened at $133.51 on Friday. The business’s 50-day simple moving average is $132.44 and its two-hundred day simple moving average is $137.45. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The company has a market cap of $11.61 billion, a PE ratio of 20.51, a PEG ratio of 3.19 and a beta of 1.11. Allegion has a fifty-two week low of $113.27 and a fifty-two week high of $156.10.

Allegion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.53%. Allegion’s dividend payout ratio (DPR) is 29.49%.

Insider Activity at Allegion

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

Hedge Funds Weigh In On Allegion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALLE. Wahed Invest LLC acquired a new position in shares of Allegion during the 4th quarter worth about $290,000. Mercer Global Advisors Inc. ADV increased its stake in Allegion by 5.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,944 shares of the scientific and technical instruments company’s stock worth $1,561,000 after buying an additional 653 shares in the last quarter. Cypress Advisory Group LLC acquired a new position in shares of Allegion during the fourth quarter valued at approximately $2,036,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Allegion in the fourth quarter worth approximately $12,232,000. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Allegion by 70.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 20,110 shares of the scientific and technical instruments company’s stock worth $2,628,000 after purchasing an additional 8,321 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Company Profile

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.