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

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

Other equities analysts also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Zacks Research downgraded shares of Allegion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Mizuho lifted their target price on shares of Allegion from $145.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Bank of America upgraded Allegion from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $110.00 to $175.00 in a research note on Tuesday, July 29th. Finally, The Goldman Sachs Group raised their target price on Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $173.00.

Allegion Trading Down 0.4%

Shares of Allegion stock opened at $176.67 on Wednesday. Allegion has a 1 year low of $116.57 and a 1 year high of $180.34. The firm has a market cap of $15.17 billion, a PE ratio of 24.54, a P/E/G ratio of 3.81 and a beta of 1.07. The stock has a fifty day moving average price of $170.45 and a 200-day moving average price of $149.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64.

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

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, September 15th. Allegion’s dividend payout ratio (DPR) is 28.33%.

Insider Transactions at Allegion

In other news, SVP Timothy P. Eckersley sold 10,810 shares of Allegion 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 sale, the senior vice president owned 30,023 shares in the company, valued at approximately $4,946,589.48. This trade represents a 26.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the sale, the senior vice president owned 8,773 shares of the company’s stock, valued at approximately $1,446,843.16. This trade represents a 30.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Institutional Trading of Allegion

A number of hedge funds have recently bought and sold shares of ALLE. Wayfinding Financial LLC bought a new stake in Allegion in the 1st quarter worth approximately $30,000. Sound Income Strategies LLC bought a new stake in Allegion in the 2nd quarter worth approximately $32,000. CYBER HORNET ETFs LLC bought a new stake in Allegion in the 2nd quarter worth approximately $33,000. Spire Wealth Management lifted its position in Allegion by 78.0% in the 2nd quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 103 shares during the last quarter. Finally, Garde Capital Inc. bought a new stake in Allegion in the 1st quarter worth approximately $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.