Allegion PLC (NYSE:ALLE) Stock Has Average Target Price of $173.56

Allegion PLC (NYSE:ALLE) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $179.60.

Several equities research analysts have weighed in on ALLE shares. JPMorgan Chase & Co. lifted their price target on shares of Allegion from $170.00 to $183.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley set a $170.00 price objective on shares of Allegion in a research report on Monday. Robert W. Baird set a $196.00 target price on Allegion in a research note on Friday. Mizuho set a $180.00 target price on Allegion in a research report on Friday. Finally, The Goldman Sachs Group upped their price target on Allegion from $182.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday.

Insider Buying and Selling

In other news, Director Steven Mizell bought 170 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average cost of $158.28 per share, for a total transaction of $26,907.60. Following the acquisition, the director directly owned 5,899 shares in the company, valued at approximately $933,693.72. This trade represents a 2.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vincent Wenos sold 1,000 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $168.25, for a total value of $168,250.00. Following the completion of the transaction, the senior vice president owned 12,096 shares in the company, valued at approximately $2,035,152. This represents a 7.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Allegion

A number of hedge funds and other institutional investors have recently bought and sold shares of ALLE. Dimensional Fund Advisors LP lifted its stake in shares of Allegion by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company’s stock valued at $123,952,000 after buying an additional 13,186 shares in the last quarter. Hawk Ridge Capital Management LP grew its holdings in shares of Allegion by 32.9% during the first quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock valued at $116,640,000 after buying an additional 198,800 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Allegion by 19.4% during the first quarter. The Manufacturers Life Insurance Company now owns 599,326 shares of the scientific and technical instruments company’s stock worth $87,076,000 after acquiring an additional 97,304 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Allegion by 8.1% during the first quarter. Boston Trust Walden Corp now owns 566,792 shares of the scientific and technical instruments company’s stock worth $82,349,000 after acquiring an additional 42,660 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Allegion by 5.5% during the first quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company’s stock worth $78,766,000 after acquiring an additional 28,449 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

NYSE:ALLE opened at $178.33 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.90 and a debt-to-equity ratio of 0.94. Allegion has a twelve month low of $125.00 and a twelve month high of $183.11. The company has a fifty day moving average of $156.74 and a 200-day moving average of $150.37. The firm has a market capitalization of $15.04 billion, a P/E ratio of 20.48, a P/E/G ratio of 3.59 and a beta of 0.81.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.10. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. Allegion had a net margin of 15.74% and a return on equity of 35.52%. Allegion’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.30 earnings per share. As a group, sell-side analysts anticipate that Allegion will post 9.04 EPS for the current year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Allegion’s dividend payout ratio (DPR) is 27.40%.

About Allegion

Allegion plc (NYSE:ALLE) is a global security products and solutions company focused on protecting people and property. Its portfolio includes mechanical and electronic locks, access control systems, door closers, exit devices, door controls, and commercial doors and frames.

The company serves commercial, institutional, industrial, and residential customers through well-known brands including Schlage, Von Duprin, LCN, Steelcraft, Briton, and aptiQ. Its offerings range from traditional hardware to connected and electronic access solutions designed for offices, schools, healthcare facilities, multifamily properties, and homes.

Allegion was established as an independent public company in 2013 following its separation from Ingersoll Rand.