JPMorgan Chase & Co. Cuts Allegion (NYSE:ALLE) Price Target to $180.00

Allegion (NYSE:ALLE) had its price target decreased by JPMorgan Chase & Co. from $190.00 to $180.00 in a report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the scientific and technical instruments company’s stock.

Several other equities analysts have also recently issued reports on ALLE. Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a research note on Wednesday, January 21st. Barclays reduced their price target on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 7th. Wells Fargo & Company reaffirmed a “positive” rating on shares of Allegion in a report on Tuesday, December 16th. Finally, Robert W. Baird increased their price objective on shares of Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Allegion has an average rating of “Hold” and a consensus target price of $175.50.

Allegion Stock Performance

Shares of Allegion stock opened at $162.34 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.11 and a current ratio of 1.84. Allegion has a 1 year low of $116.57 and a 1 year high of $183.11. The firm’s 50-day simple moving average is $165.46 and its 200-day simple moving average is $168.09. The firm has a market cap of $13.98 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 3.49 and a beta of 1.03.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 17th. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.07). Allegion had a net margin of 15.83% and a return on equity of 38.06%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned $1.86 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Equities analysts forecast that Allegion will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.55 dividend. The ex-dividend date is Friday, March 13th. This is an increase from Allegion’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 1.4%. Allegion’s dividend payout ratio (DPR) is 27.60%.

Insider Buying and Selling at Allegion

In other news, Director Steven Mizell sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $161.51, for a total transaction of $161,510.00. Following the completion of the transaction, the director directly owned 4,915 shares in the company, valued at approximately $793,821.65. The trade was a 16.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

Institutional Trading of Allegion

Several hedge funds have recently added to or reduced their stakes in the business. Boston Partners increased its holdings in shares of Allegion by 1.0% during the third quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company’s stock valued at $842,026,000 after purchasing an additional 48,199 shares during the period. State Street Corp lifted its holdings in Allegion by 6.6% in the third quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock worth $750,584,000 after purchasing an additional 260,973 shares during the period. Geode Capital Management LLC grew its position in Allegion by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,693,831 shares of the scientific and technical instruments company’s stock valued at $427,521,000 after buying an additional 13,880 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Allegion by 10.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,593,117 shares of the scientific and technical instruments company’s stock valued at $412,876,000 after buying an additional 236,248 shares during the period. Finally, Invesco Ltd. raised its position in shares of Allegion by 12.7% during the 4th quarter. Invesco Ltd. now owns 1,402,682 shares of the scientific and technical instruments company’s stock worth $223,335,000 after buying an additional 157,724 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.