Allegion (NYSE:ALLE) Reaches New 52-Week High – Time to Buy?

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

Analysts Set New Price Targets

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

Allegion Trading Up 0.6%

The business has a fifty day moving average price of $164.93 and a 200-day moving average price of $168.07. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 1.06. The company has a market cap of $15.43 billion, a P/E ratio of 24.27, a PEG ratio of 3.25 and a beta of 1.03.

Allegion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.55 per share. This is an increase from Allegion’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. Allegion’s payout ratio is 27.60%.

Hedge Funds Weigh In On Allegion

Institutional investors and hedge funds have recently modified their holdings of the business. FORA Capital LLC acquired a new stake in Allegion in the 4th quarter worth about $2,163,000. Transamerica Financial Advisors LLC increased its holdings in shares of Allegion by 8.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,214 shares of the scientific and technical instruments company’s stock worth $193,000 after purchasing an additional 91 shares during the period. Quartz Partners LLC raised its position in shares of Allegion by 8.2% in the fourth quarter. Quartz Partners LLC now owns 7,988 shares of the scientific and technical instruments company’s stock valued at $1,272,000 after buying an additional 606 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Allegion in the fourth quarter valued at approximately $658,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Allegion by 17.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 502,022 shares of the scientific and technical instruments company’s stock valued at $79,932,000 after buying an additional 73,918 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.