Allegion (NYSE:ALLE) Given New $134.00 Price Target at Barclays

Allegion (NYSE:ALLE) had its target price dropped by investment analysts at Barclays from $137.00 to $134.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s target price would indicate a potential upside of 5.26% from the company’s previous close.

Several other research analysts have also recently issued reports on ALLE. Morgan Stanley initiated coverage on shares of Allegion in a report on Monday. They set an “equal weight” rating and a $137.00 target price for the company. Wells Fargo & Company cut their price target on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday. Mizuho increased their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Robert W. Baird boosted their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $140.83.

Allegion Stock Down 1.4 %

NYSE:ALLE opened at $127.30 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a market cap of $11.07 billion, a PE ratio of 19.55, a P/E/G ratio of 3.35 and a beta of 1.11. The company’s 50 day moving average is $137.90 and its two-hundred day moving average is $135.72.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. The firm had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.94 earnings per share. Analysts anticipate that Allegion will post 7.41 EPS for the current year.

Insider Buying and Selling at Allegion

In related news, CEO John H. Stone purchased 7,500 shares of Allegion stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the transaction, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the transaction, the senior vice president now owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Diversified Trust Co purchased a new position in shares of Allegion in the 4th quarter valued at $1,773,000. Fortem Financial Group LLC boosted its holdings in Allegion by 4.6% in the fourth quarter. Fortem Financial Group LLC now owns 5,604 shares of the scientific and technical instruments company’s stock valued at $732,000 after purchasing an additional 245 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Allegion by 4.4% during the fourth quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock worth $154,643,000 after buying an additional 49,176 shares in the last quarter. GAMMA Investing LLC grew its holdings in Allegion by 55.6% during the 4th quarter. GAMMA Investing LLC now owns 504 shares of the scientific and technical instruments company’s stock worth $66,000 after acquiring an additional 180 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Allegion by 271.5% in the fourth quarter. Versant Capital Management Inc now owns 613 shares of the scientific and technical instruments company’s stock valued at $80,000 after buying an additional 448 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About Allegion

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.