Allegion (NYSE:ALLE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Allegion (NYSE:ALLE) had its price target raised by investment analysts at Morgan Stanley from $137.00 to $139.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Morgan Stanley’s price target points to a potential upside of 10.89% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company dropped their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Robert W. Baird dropped their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Barclays dropped their price objective on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $138.33.

Allegion Trading Down 0.4 %

Allegion stock traded down $0.55 during mid-day trading on Wednesday, hitting $125.34. The company’s stock had a trading volume of 447,687 shares, compared to its average volume of 845,751. Allegion has a one year low of $113.27 and a one year high of $156.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The company has a 50 day moving average of $132.14 and a 200-day moving average of $137.42. The stock has a market cap of $10.90 billion, a PE ratio of 19.26, a P/E/G ratio of 3.29 and a beta of 1.11.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. On average, research analysts anticipate that Allegion will post 7.42 EPS for the current year.

Insider Buying and Selling

In other Allegion news, CEO John H. Stone acquired 7,500 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Allegion

Several institutional investors have recently bought and sold shares of ALLE. Brooklyn Investment Group acquired a new stake in shares of Allegion in the third quarter worth approximately $28,000. Millstone Evans Group LLC purchased a new position in Allegion during the fourth quarter worth approximately $28,000. Concord Wealth Partners purchased a new position in Allegion during the third quarter worth approximately $29,000. Colonial Trust Co SC lifted its position in Allegion by 192.9% during the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 164 shares in the last quarter. Finally, Cromwell Holdings LLC lifted its position in Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after buying 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.