Allegion (NYSE:ALLE) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Allegion (NYSE:ALLE) from a buy rating to a hold rating in a research note published on Friday.

Several other brokerages have also commented on ALLE. Wells Fargo & Company decreased their price target on Allegion from $141.00 to $125.00 and set an equal weight rating on the stock in a research note on Wednesday, July 10th. UBS Group boosted their price objective on Allegion from $113.00 to $132.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Finally, Barclays cut their price objective on Allegion from $116.00 to $112.00 and set an underweight rating on the stock in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $123.67.

Allegion Stock Performance

NYSE ALLE opened at $126.67 on Friday. Allegion has a fifty-two week low of $95.94 and a fifty-two week high of $136.91. The stock’s fifty day moving average is $119.87 and its two-hundred day moving average is $125.03. The firm has a market capitalization of $11.08 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 3.90 and a beta of 1.13. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.87 and a current ratio of 1.31.

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

Insiders Place Their Bets

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total transaction of $267,624.12. Following the sale, the senior vice president now owns 11,103 shares in the company, valued at approximately $1,354,343.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. increased its holdings in shares of Allegion by 39.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 435 shares of the scientific and technical instruments company’s stock valued at $51,000 after acquiring an additional 122 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Allegion by 17.8% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 280,387 shares of the scientific and technical instruments company’s stock valued at $33,127,000 after acquiring an additional 42,307 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Allegion by 1.8% in the 2nd quarter. Raymond James & Associates now owns 447,195 shares of the scientific and technical instruments company’s stock valued at $52,836,000 after acquiring an additional 7,780 shares during the last quarter. Boston Trust Walden Corp increased its holdings in shares of Allegion by 4.1% in the 2nd quarter. Boston Trust Walden Corp now owns 455,308 shares of the scientific and technical instruments company’s stock valued at $53,795,000 after acquiring an additional 17,758 shares during the last quarter. Finally, Everpar Advisors LLC boosted its position in shares of Allegion by 4.3% in the 2nd quarter. Everpar Advisors LLC now owns 2,813 shares of the scientific and technical instruments company’s stock valued at $332,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.