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

A number of other research firms have also recently weighed in on ALLE. Wells Fargo & Co upped their price objective on shares of Allegion from $96.00 to $99.00 and gave the stock an outperform rating in a research report on Friday, October 26th. Zacks Investment Research upgraded shares of Allegion from a hold rating to a buy rating and set a $93.00 price objective for the company in a research report on Monday, October 29th. Credit Suisse Group initiated coverage on shares of Allegion in a research report on Friday, October 12th. They set an outperform rating and a $96.00 price objective for the company. Finally, Morgan Stanley initiated coverage on shares of Allegion in a research report on Monday, August 20th. They set an equal weight rating and a $88.00 price objective for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $95.50.

NYSE:ALLE opened at $88.67 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 2.37. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 1.56 and a beta of 1.06. Allegion has a fifty-two week low of $73.85 and a fifty-two week high of $94.30.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 25th. The scientific and technical instruments company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.02. The company had revenue of $711.50 million during the quarter, compared to analysts’ expectations of $699.07 million. Allegion had a net margin of 11.75% and a return on equity of 85.03%. As a group, equities research analysts predict that Allegion will post 4.49 EPS for the current year.

In other news, insider Douglas P. Ranck sold 3,200 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $89.78, for a total value of $287,296.00. Following the completion of the sale, the insider now directly owns 10,348 shares in the company, valued at $929,043.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ALLE. Vanguard Group Inc. grew its holdings in shares of Allegion by 1.7% in the third quarter. Vanguard Group Inc. now owns 9,963,751 shares of the scientific and technical instruments company’s stock valued at $902,417,000 after purchasing an additional 164,422 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Allegion by 3.6% in the third quarter. Alliancebernstein L.P. now owns 6,640,934 shares of the scientific and technical instruments company’s stock valued at $601,470,000 after purchasing an additional 233,246 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of Allegion by 43.8% in the third quarter. Brown Brothers Harriman & Co. now owns 2,413,198 shares of the scientific and technical instruments company’s stock valued at $218,563,000 after purchasing an additional 734,596 shares during the period. Standard Life Aberdeen plc grew its holdings in shares of Allegion by 3.7% in the second quarter. Standard Life Aberdeen plc now owns 2,280,914 shares of the scientific and technical instruments company’s stock valued at $176,464,000 after purchasing an additional 80,338 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of Allegion by 0.7% in the third quarter. Bessemer Group Inc. now owns 2,036,905 shares of the scientific and technical instruments company’s stock valued at $184,484,000 after purchasing an additional 14,924 shares during the period. Institutional investors and hedge funds own 96.47% of the company’s stock.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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Analyst Recommendations for Allegion (NYSE:ALLE)

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