Robert W. Baird Issues Positive Forecast for Allegion (NYSE:ALLE) Stock Price

Allegion (NYSE:ALLE) had its target price raised by Robert W. Baird from $175.00 to $190.00 in a research note released on Tuesday, Marketbeat reports. The brokerage currently has a neutral rating on the scientific and technical instruments company’s stock.

A number of other equities analysts also recently issued reports on ALLE. Mizuho upped their price target on Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, July 25th. The Goldman Sachs Group upped their price target on Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Morgan Stanley increased their price objective on Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Zacks Research downgraded Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Finally, Wells Fargo & Company increased their price objective on Allegion from $175.00 to $185.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $176.13.

Allegion Stock Performance

Shares of ALLE opened at $179.51 on Tuesday. The stock has a 50 day moving average price of $173.81 and a 200 day moving average price of $153.81. 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 capitalization of $15.41 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 3.84 and a beta of 1.07. Allegion has a 52-week low of $116.57 and a 52-week high of $180.68.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Research analysts predict that Allegion will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 1.1%. Allegion’s dividend payout ratio (DPR) is currently 28.33%.

Insider Buying and Selling at Allegion

In related news, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total transaction of $634,777.08. Following the completion of the sale, the senior vice president directly owned 8,773 shares of the company’s stock, valued at $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the transaction, the senior vice president owned 30,023 shares of the company’s stock, valued at $4,946,589.48. The trade was a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALLE. 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 worth $142,707,000 after acquiring an additional 885,857 shares in the last quarter. 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 worth $623,104,000 after acquiring an additional 878,796 shares in the last quarter. Berkshire Hathaway Inc purchased a new position in Allegion in the second quarter worth $112,433,000. Norges Bank purchased a new position in Allegion in the second quarter worth $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 worth $85,506,000 after acquiring an additional 472,435 shares in the last quarter. Hedge funds and other 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.