Allegion PLC (NYSE:ALLE - Get Free Report) shares hit a new 52-week high during trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $176.00 to $198.00. The Goldman Sachs Group currently has a buy rating on the stock. Allegion traded as high as $179.14 and last traded at $178.13, with a volume of 66121 shares changing hands. The stock had previously closed at $177.04.
Several other analysts have also commented on the company. Robert W. Baird raised their price objective on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Barclays raised Allegion from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $156.00 to $163.00 in a research note on Thursday, August 14th. JPMorgan Chase & Co. began coverage on Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price target on the stock. Zacks Research lowered Allegion from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Finally, Wells Fargo & Company lifted their price target on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $170.25.
Check Out Our Latest Report on Allegion
Insiders Place Their Bets
In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the transaction, the senior vice president owned 30,023 shares of the company's stock, valued at approximately $4,946,589.48. The trade was a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the transaction, the senior vice president directly owned 8,773 shares in the company, valued at $1,446,843.16. This trade represents a 30.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company's stock.
Hedge Funds Weigh In On Allegion
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in Allegion by 380.0% in the first quarter. AQR Capital Management LLC now owns 1,118,960 shares of the scientific and technical instruments company's stock valued at $142,707,000 after purchasing an additional 885,857 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in Allegion by 22.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company's stock valued at $623,104,000 after purchasing an additional 878,796 shares during the period. Berkshire Hathaway Inc purchased a new stake in Allegion in the second quarter valued at $112,433,000. Norges Bank purchased a new stake in Allegion in the second quarter valued at $109,862,000. Finally, Robeco Institutional Asset Management B.V. raised its position in Allegion by 390.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 593,298 shares of the scientific and technical instruments company's stock valued at $85,506,000 after purchasing an additional 472,435 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.
Allegion Price Performance
The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. The company has a market cap of $15.35 billion, a PE ratio of 24.83, a P/E/G ratio of 3.80 and a beta of 1.07. The stock has a 50-day simple moving average of $165.75 and a 200 day simple moving average of $145.94.
Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $2.00 by $0.04. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. During the same quarter in the previous year, the business earned $1.96 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Equities analysts expect that Allegion PLC will post 7.77 EPS for the current year.
Allegion Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, September 15th. Allegion's payout ratio is currently 28.33%.
About Allegion
(
Get Free Report)
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.
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