Allegion (NYSE:ALLE) Given New $128.00 Price Target at Barclays

Allegion (NYSE:ALLE) had its target price upped by Barclays from $126.00 to $128.00 in a report issued on Friday morning,Benzinga reports. Barclays currently has an underweight rating on the scientific and technical instruments company’s stock.

ALLE has been the subject of a number of other reports. Robert W. Baird lowered their price target on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Morgan Stanley increased their target price on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Wells Fargo & Company cut their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Finally, StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $140.40.

Allegion Price Performance

ALLE stock opened at $136.50 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The firm has a market cap of $11.76 billion, a P/E ratio of 20.01, a P/E/G ratio of 3.97 and a beta of 1.01. The firm’s fifty day moving average is $127.27 and its 200 day moving average is $133.78. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.18. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The company had revenue of $941.90 million during the quarter, compared to analyst estimates of $918.53 million. Research analysts predict that Allegion will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Friday, June 13th. Allegion’s payout ratio is presently 29.91%.

Insider Buying and Selling

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the sale, the chief accounting officer now owns 4,972 shares in the company, valued at approximately $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David S. Ilardi sold 789 shares of Allegion stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the transaction, the senior vice president now owns 9,625 shares of the company’s stock, valued at $1,205,820. The trade was a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,224 shares of company stock valued at $406,636 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALLE. Barclays PLC increased its holdings in shares of Allegion by 28.9% during the third quarter. Barclays PLC now owns 259,793 shares of the scientific and technical instruments company’s stock valued at $37,861,000 after acquiring an additional 58,268 shares in the last quarter. Virtu Financial LLC bought a new stake in Allegion during the 3rd quarter valued at about $920,000. Anchor Investment Management LLC purchased a new position in Allegion in the third quarter worth about $71,000. Wilmington Savings Fund Society FSB bought a new position in shares of Allegion in the third quarter worth approximately $311,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Allegion during the third quarter valued at approximately $15,508,000. 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.