Allegion plc (NYSE:ALLE) Given Average Rating of "Reduce" by Brokerages

Allegion plc (NYSE:ALLE - Get Free Report) has been given an average rating of "Reduce" by the five ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $140.40.

ALLE has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Robert W. Baird increased their price objective on shares of Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Wells Fargo & Company cut their target price on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Barclays increased their price objective on shares of Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a research report on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th.

Hedge Funds Weigh In On Allegion

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Allegion by 0.5% during the first quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company's stock worth $1,404,672,000 after buying an additional 48,615 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Allegion by 22.5% during 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 acquiring an additional 878,796 shares in the last quarter. Boston Partners boosted its stake in shares of Allegion by 0.8% during the 1st quarter. Boston Partners now owns 4,752,391 shares of the scientific and technical instruments company's stock worth $619,700,000 after acquiring an additional 35,635 shares in the last quarter. Van ECK Associates Corp lifted its position in Allegion by 8.1% during the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company's stock worth $449,033,000 after acquiring an additional 257,175 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Allegion by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company's stock valued at $280,607,000 after buying an additional 41,417 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Allegion Stock Down 1.3%

ALLE stock traded down $1.80 during midday trading on Wednesday, reaching $137.88. 643,835 shares of the company's stock traded hands, compared to its average volume of 866,014. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10. The company has a market cap of $11.86 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 3.97 and a beta of 1.02. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The firm's fifty day moving average price is $135.52 and its 200-day moving average price is $133.07.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.18. The business had revenue of $941.90 million during the quarter, compared to the consensus estimate of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $1.55 earnings per share. As a group, sell-side analysts forecast that Allegion will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, June 13th. Allegion's dividend payout ratio is currently 28.65%.

Allegion Company Profile

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.