Allegion (NYSE:ALLE) Sets New 52-Week High – Should You Buy?

Shares of Allegion PLC (NYSE:ALLE) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $182.79 and last traded at $183.18, with a volume of 43569 shares. The stock had previously closed at $179.39.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a research note on Wednesday, January 21st. Robert W. Baird increased their target price on Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Barclays lowered their target price on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company restated a “positive” rating on shares of Allegion in a research report on Tuesday, December 16th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $174.25.

Allegion Price Performance

The stock’s 50 day moving average is $164.18 and its two-hundred day moving average is $167.89. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.77 and a quick ratio of 1.11. The stock has a market capitalization of $15.39 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 3.27 and a beta of 1.03.

Allegion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, March 13th. This is an increase from Allegion’s previous quarterly dividend of $0.51. Allegion’s dividend payout ratio (DPR) is currently 29.77%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Westside Investment Management Inc. boosted its holdings in Allegion by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Pinnacle Bancorp Inc. lifted its stake in Allegion by 255.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 115 shares in the last quarter. First Horizon Corp acquired a new stake in Allegion during the 3rd quarter valued at $26,000. Hantz Financial Services Inc. raised its holdings in shares of Allegion by 120.9% in the third quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Allegion in the third quarter valued at $29,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

About Allegion

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.