Allegion (NYSE:ALLE) Upgraded at Barclays

Barclays upgraded shares of Allegion (NYSE:ALLE) from an underweight rating to an equal weight rating in a research note published on Thursday, MarketBeat.com reports. Barclays currently has $163.00 price objective on the scientific and technical instruments company’s stock, up from their previous price objective of $156.00.

Several other equities analysts have also issued reports on ALLE. Robert W. Baird lifted their price target on shares of Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Morgan Stanley boosted their price objective on shares of Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. JPMorgan Chase & Co. began coverage on shares of Allegion in a report on Tuesday, June 24th. They set an “overweight” rating and a $170.00 price objective on the stock. Mizuho boosted their price objective on shares of Allegion from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Finally, Wells Fargo & Company boosted their price objective on shares of Allegion from $150.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, July 25th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Allegion has an average rating of “Hold” and an average target price of $166.75.

Allegion Stock Performance

Allegion stock opened at $167.22 on Thursday. The company has a market capitalization of $14.36 billion, a PE ratio of 23.23, a P/E/G ratio of 3.58 and a beta of 1.05. Allegion has a fifty-two week low of $116.57 and a fifty-two week high of $170.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30. The company has a 50 day moving average price of $151.80 and a 200-day moving average price of $139.02.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. During the same quarter in the previous year, the firm posted $1.96 earnings per share. Allegion’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that Allegion will post 7.77 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Tracy L. Kemp sold 3,849 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $164.92, for a total transaction of $634,777.08. Following the completion of the transaction, the senior vice president directly owned 8,773 shares in the company, valued at $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction 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 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 Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wayfinding Financial LLC acquired a new position in shares of Allegion during the 1st quarter worth about $30,000. Sound Income Strategies LLC acquired a new position in shares of Allegion during the 2nd quarter worth about $32,000. Colonial Trust Co SC raised its position in shares of Allegion by 192.9% during the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 164 shares during the last quarter. Spire Wealth Management raised its position 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 purchasing an additional 103 shares during the last quarter. Finally, Garde Capital Inc. acquired a new position in shares of Allegion during the 1st quarter worth about $36,000. Institutional investors and hedge funds 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.