Allegion (NYSE:ALLE) Price Target Raised to $185.00

Allegion (NYSE:ALLE) had its price target lifted by Barclays from $163.00 to $185.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the scientific and technical instruments company’s stock.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group lifted 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. JPMorgan Chase & Co. began coverage on Allegion in a report on Tuesday, June 24th. They set an “overweight” rating and a $170.00 price target on the stock. Mizuho lifted 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. Zacks Research downgraded Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Finally, Bank of America upgraded Allegion from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $110.00 to $175.00 in a report on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Allegion presently has an average rating of “Hold” and a consensus target price of $173.00.

Allegion Stock Down 0.3%

Shares of Allegion stock opened at $177.29 on Wednesday. The stock’s fifty day moving average is $170.96 and its 200-day moving average is $149.68. The firm has a market capitalization of $15.22 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. Allegion has a 12-month low of $116.57 and a 12-month high of $180.34.

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

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 1.2%. Allegion’s payout ratio is presently 28.33%.

Insider Activity at Allegion

In other news, SVP Tracy L. Kemp sold 3,849 shares of the company’s stock in a transaction dated 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 owned 8,773 shares in the company, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the company’s stock in a transaction dated 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 sale, the senior vice president owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. This trade represents a 26.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Institutional Trading of Allegion

Large investors have recently made changes to their positions in the stock. Wayfinding Financial LLC bought a new stake in shares of Allegion during the 1st quarter worth about $30,000. Sound Income Strategies LLC bought a new stake in shares of Allegion during the 2nd quarter worth about $32,000. CYBER HORNET ETFs LLC bought a new stake in shares of Allegion during the 2nd quarter worth about $33,000. Spire Wealth Management boosted its stake in shares of Allegion by 78.0% during the 2nd quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 103 shares in the last quarter. Finally, Garde Capital Inc. bought a new stake in shares of Allegion during the 1st quarter worth about $36,000. Institutional investors own 92.21% of the company’s stock.

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.