Allegion (NYSE:ALLE) Price Target Increased to $137.00 by Analysts at Wells Fargo & Company

Allegion (NYSE:ALLE) had its target price increased by Wells Fargo & Company from $125.00 to $137.00 in a research note released on Thursday, Benzinga reports. They currently have an equal weight rating on the scientific and technical instruments company’s stock.

ALLE has been the topic of a number of other reports. UBS Group raised their price target on shares of Allegion from $113.00 to $132.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. StockNews.com downgraded Allegion from a buy rating to a hold rating in a research report on Friday, July 19th. Finally, Barclays lifted their price target on Allegion from $112.00 to $117.00 and gave the stock an underweight rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $125.40.

Allegion Stock Up 2.9 %

Shares of ALLE opened at $136.77 on Thursday. The firm has a market cap of $11.92 billion, a P/E ratio of 22.31, a PEG ratio of 4.22 and a beta of 1.13. Allegion has a 12 month low of $95.94 and a 12 month high of $137.52. The stock’s 50 day moving average is $120.26 and its two-hundred day moving average is $125.26. The company has a current ratio of 1.66, a quick ratio of 0.87 and a debt-to-equity ratio of 1.40.

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

Insider Buying and Selling

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of the company’s 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 sale, the senior vice president now directly 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 can be accessed through this link. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allegion

Institutional investors and hedge funds have recently bought and sold shares of the company. Boston Partners raised its position in shares of Allegion by 1.5% during the 1st quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock valued at $673,441,000 after buying an additional 72,773 shares during the period. Van ECK Associates Corp raised its position in Allegion by 2.8% in the first quarter. Van ECK Associates Corp now owns 3,306,600 shares of the scientific and technical instruments company’s stock valued at $445,432,000 after purchasing an additional 90,951 shares during the period. Brown Advisory Inc. raised its position in Allegion by 33.0% in the fourth quarter. Brown Advisory Inc. now owns 1,895,352 shares of the scientific and technical instruments company’s stock valued at $240,122,000 after purchasing an additional 470,104 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Allegion in the 4th quarter valued at $120,959,000. Finally, Norges Bank purchased a new position in shares of Allegion during the 4th quarter worth $110,740,000. 92.21% of the stock is currently 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.