Allegion (NYSE:ALLE) Shares Down 5% – Here’s What Happened

Allegion plc (NYSE:ALLE)’s share price traded down 5% during trading on Tuesday . The stock traded as low as $127.86 and last traded at $126.66. 157,059 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 802,278 shares. The stock had previously closed at $133.39.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ALLE. Barclays cut their target price on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company dropped their target price on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird increased their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Morgan Stanley started coverage on shares of Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $140.83.

Allegion Stock Performance

The business’s fifty day moving average price is $132.14 and its 200-day moving average price is $137.42. The stock has a market cap of $10.95 billion, a PE ratio of 19.35, a P/E/G ratio of 3.19 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a net margin of 15.36% and a return on equity of 45.64%. As a group, equities research analysts forecast that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Increases Dividend

The company also recently disclosed 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. This represents a $2.04 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio is 29.49%.

Insider Buying and Selling at Allegion

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

Hedge Funds Weigh In On Allegion

Institutional investors and hedge funds have recently made changes to their positions in the business. McClarren Financial Advisors Inc. increased its holdings 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 buying an additional 72 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Allegion by 0.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock worth $2,871,000 after purchasing an additional 77 shares in the last quarter. Douglass Winthrop Advisors LLC raised its holdings in Allegion by 0.4% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company’s stock worth $2,911,000 after purchasing an additional 80 shares during the period. OneDigital Investment Advisors LLC raised its holdings in Allegion by 2.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock worth $425,000 after purchasing an additional 82 shares during the period. Finally, Heritage Family Offices LLP lifted its position in Allegion by 3.2% during the fourth quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock valued at $346,000 after purchasing an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.