Allegion plc (NYSE:ALLE) Given Average Recommendation of "Reduce" by Analysts

Shares of Allegion plc (NYSE:ALLE - Get Free Report) have received a consensus recommendation of "Reduce" from the five ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $140.40.

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Allegion from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Morgan Stanley increased 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. Barclays increased their target price on shares of Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a report on Friday, April 25th. Robert W. Baird increased their target price on shares of Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Finally, Wells Fargo & Company dropped their price target on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th.

Allegion Price Performance

Allegion stock traded down $3.49 during mid-day trading on Wednesday, reaching $135.18. The company had a trading volume of 556,572 shares, compared to its average volume of 870,002. Allegion has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The company has a market cap of $11.63 billion, a P/E ratio of 19.82, a P/E/G ratio of 3.97 and a beta of 1.02. The business has a fifty day simple moving average of $136.50 and a 200 day simple moving average of $133.04.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.18. The firm had revenue of $941.90 million during the quarter, compared to the consensus estimate of $918.53 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 earnings per share. On average, equities research analysts predict that Allegion will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, June 13th. Allegion's dividend payout ratio (DPR) is presently 28.65%.

Institutional Investors Weigh In On Allegion

Several large investors have recently bought and sold shares of ALLE. Stratos Wealth Partners LTD. grew its holdings in shares of Allegion by 7.0% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,538 shares of the scientific and technical instruments company's stock worth $854,000 after purchasing an additional 426 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Allegion by 31.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,525 shares of the scientific and technical instruments company's stock worth $1,387,000 after acquiring an additional 2,525 shares during the period. Choreo LLC purchased a new stake in shares of Allegion during the fourth quarter valued at about $209,000. Bleakley Financial Group LLC lifted its position in shares of Allegion by 17.0% during the fourth quarter. Bleakley Financial Group LLC now owns 1,643 shares of the scientific and technical instruments company's stock valued at $215,000 after buying an additional 239 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Allegion by 4.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company's stock valued at $26,724,000 after buying an additional 8,806 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

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.