Wells Fargo & Company Lowers Allegion (NYSE:ALLE) Price Target to $135.00

Allegion (NYSE:ALLE) had its target price lowered by equities researchers at Wells Fargo & Company from $140.00 to $135.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 6.26% from the stock’s previous close.

A number of other research firms have also recently weighed in on ALLE. Morgan Stanley initiated coverage on shares of Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective on the stock. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Barclays cut their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday. Finally, Robert W. Baird cut their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, Allegion currently has an average rating of “Hold” and a consensus target price of $138.33.

Allegion Stock Up 0.4 %

Shares of Allegion stock opened at $127.05 on Wednesday. Allegion has a 52-week low of $113.27 and a 52-week high of $156.10. The company has a 50 day moving average of $131.32 and a 200 day moving average of $137.24. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $11.04 billion, a P/E ratio of 18.63, a P/E/G ratio of 3.09 and a beta of 1.11.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. Allegion had a net margin of 15.84% and a return on equity of 45.53%. The company had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. As a group, research analysts forecast that Allegion will post 7.65 EPS for the current fiscal year.

Insider Activity

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John H. Stone acquired 7,500 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the purchase, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. This trade represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

Institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Allegion in the 3rd quarter valued at $28,000. Millstone Evans Group LLC purchased a new stake in shares of Allegion during the 4th quarter worth $28,000. Concord Wealth Partners purchased a new stake in shares of Allegion during the 3rd quarter worth $29,000. Colonial Trust Co SC boosted its position in shares of Allegion by 192.9% during the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its position in shares of Allegion by 65.2% during the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 92 shares in the last quarter. 92.21% of the stock is 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.