Allegion (NYSE:ALLE) Downgraded by StockNews.com

StockNews.com cut shares of Allegion (NYSE:ALLE) from a buy rating to a hold rating in a research note released on Monday.

Several other equities research analysts have also issued reports on ALLE. Mizuho lowered Allegion from a buy rating to a neutral rating and lifted their price objective for the company from $140.00 to $141.00 in a research note on Friday, February 23rd. Wells Fargo & Company lowered Allegion from an overweight rating to an equal weight rating and lifted their price target for the stock from $139.00 to $140.00 in a research note on Wednesday, February 21st. UBS Group lifted their price target on Allegion from $113.00 to $132.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Finally, Barclays lifted their price target on Allegion from $121.00 to $122.00 and gave the stock an equal weight rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $126.83.

Allegion Stock Performance

NYSE:ALLE opened at $118.29 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.31 and a quick ratio of 0.87. The business has a fifty day simple moving average of $125.63 and a two-hundred day simple moving average of $123.99. Allegion has a 1 year low of $95.94 and a 1 year high of $136.91. The company has a market capitalization of $10.34 billion, a P/E ratio of 19.30, a P/E/G ratio of 3.79 and a beta of 1.16.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The business had revenue of $893.90 million during the quarter, compared to the consensus estimate of $888.27 million. Allegion had a return on equity of 48.58% and a net margin of 14.93%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the business posted $1.58 earnings per share. On average, analysts expect that Allegion will post 7.08 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a yield of 1.62%. Allegion’s dividend payout ratio is presently 31.32%.

Insider Activity at Allegion

In related news, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $129.99, for a total transaction of $656,059.53. Following the transaction, the vice president now owns 35,567 shares in the company, valued at approximately $4,623,354.33. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total transaction of $267,624.12. Following the transaction, the senior vice president now owns 11,103 shares in the company, valued at approximately $1,354,343.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Timothy P. Eckersley sold 5,047 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $129.99, for a total value of $656,059.53. Following the transaction, the vice president now owns 35,567 shares in the company, valued at approximately $4,623,354.33. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Institutional Trading of Allegion

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners grew its stake in shares of Allegion by 1.5% in the 1st quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock worth $673,441,000 after buying an additional 72,773 shares during the last quarter. Van ECK Associates Corp lifted its position in Allegion by 2.8% in the 1st 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 acquiring an additional 90,951 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in Allegion by 3.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,218,915 shares of the scientific and technical instruments company’s stock valued at $335,411,000 after acquiring an additional 119,954 shares in the last quarter. Brown Advisory Inc. lifted its position in Allegion by 33.0% in the 4th 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 acquiring an additional 470,104 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Allegion by 11.7% in the 3rd quarter. Invesco Ltd. now owns 1,467,586 shares of the scientific and technical instruments company’s stock valued at $152,922,000 after acquiring an additional 153,806 shares in the last quarter. 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.