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

Allegion plc (NYSE:ALLE) has earned an average rating of “Reduce” from the six research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $126.83.

Several research firms have weighed in on ALLE. UBS Group raised their target price on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Barclays downgraded shares of Allegion from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $122.00 to $116.00 in a report on Tuesday, June 4th. Finally, StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Monday.

Allegion Stock Performance

NYSE ALLE opened at $116.06 on Wednesday. The business has a 50 day moving average price of $120.81 and a 200 day moving average price of $125.35. The company has a market capitalization of $10.15 billion, a P/E ratio of 18.93, a PEG ratio of 3.71 and a beta of 1.13. Allegion has a 1-year low of $95.94 and a 1-year high of $136.91. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.31 and a quick ratio of 0.87.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The firm had revenue of $893.90 million during the quarter, compared to the consensus estimate of $888.27 million. During the same period last year, the firm posted $1.58 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts expect that Allegion will post 7.09 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.65%. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

Insider Transactions at Allegion

In other news, SVP Tracy L. Kemp sold 2,194 shares of Allegion stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the sale, the senior vice president now directly owns 11,103 shares in the company, valued at $1,354,343.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Allegion

Hedge funds have recently modified their holdings of the stock. CVA Family Office LLC acquired a new stake in shares of Allegion in the fourth quarter worth approximately $28,000. Robeco Institutional Asset Management B.V. lifted its position in Allegion by 19.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 3,823 shares in the last quarter. Ancora Advisors LLC lifted its position in Allegion by 153.3% during the third quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 230 shares in the last quarter. Covestor Ltd lifted its position in Allegion by 255.7% during the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $42,000 after buying an additional 225 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new position in Allegion during the first quarter valued at approximately $44,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.