Allegion (NYSE:ALLE) Given New $117.00 Price Target at Barclays

Allegion (NYSE:ALLE) had its price target lifted by Barclays from $112.00 to $117.00 in a report published on Thursday morning, Benzinga reports. They currently have an underweight rating on the scientific and technical instruments company’s stock.

Several other analysts have also weighed in on the stock. UBS Group lifted their target price on shares of Allegion from $113.00 to $132.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. StockNews.com downgraded Allegion from a buy rating to a hold rating in a report on Friday, July 19th. Finally, Wells Fargo & Company dropped their target price on Allegion from $141.00 to $125.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $126.50.

Allegion Trading Up 3.9 %

Allegion stock opened at $132.88 on Thursday. The business has a 50 day moving average price of $120.01 and a two-hundred day moving average price of $125.14. The company has a quick ratio of 0.87, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. Allegion has a 12 month low of $95.94 and a 12 month high of $136.91. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 3.94 and a beta of 1.13.

Allegion (NYSE:ALLE) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm had revenue of $965.60 million during the quarter, compared to analysts’ expectations of $953.63 million. During the same period last year, the business earned $1.76 earnings per share. Allegion’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that Allegion will post 7.22 EPS for the current year.

Insider Buying and Selling

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of Allegion stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total value of $267,624.12. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allegion

Hedge funds have recently added to or reduced their stakes in the stock. CVA Family Office LLC bought a new position in shares of Allegion in the fourth quarter worth about $28,000. Robeco Institutional Asset Management B.V. lifted its holdings in Allegion by 19.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 3,823 shares in the last quarter. Gradient Investments LLC bought a new position in Allegion in the 2nd quarter valued at $38,000. Blue Trust Inc. increased its stake in shares of Allegion by 54.0% in the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock valued at $41,000 after buying an additional 121 shares during the period. Finally, Covestor Ltd raised its position in shares of Allegion by 255.7% during the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after acquiring an additional 225 shares during the last quarter. 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.