Allegion PLC (NYSE:ALLE) Given Average Rating of “Hold” by Analysts

Allegion PLC (NYSE:ALLE) has earned a consensus rating of “Hold” from the ten analysts that are covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $174.25.

ALLE has been the topic of several research reports. Barclays lowered their target price on Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 7th. Wells Fargo & Company restated a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Robert W. Baird upped their price objective on shares of Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research report on Wednesday, January 21st.

Institutional Investors Weigh In On Allegion

Hedge funds and other institutional investors have recently bought and sold shares of the business. Forvis Mazars Wealth Advisors LLC bought a new stake in shares of Allegion during the 3rd quarter valued at $2,838,000. Burney Co. purchased a new position in Allegion during the 3rd quarter valued at about $9,297,000. Berkshire Hathaway Inc bought a new stake in Allegion during the second quarter worth about $112,433,000. Massachusetts Financial Services Co. MA boosted its stake in Allegion by 5.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,356,869 shares of the scientific and technical instruments company’s stock worth $417,991,000 after acquiring an additional 113,821 shares in the last quarter. Finally, Fusion Capital LLC purchased a new stake in Allegion in the third quarter worth about $4,406,000. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 0.6%

NYSE:ALLE opened at $179.34 on Monday. Allegion has a 12 month low of $116.57 and a 12 month high of $183.11. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06. The firm’s 50 day moving average is $164.93 and its 200 day moving average is $168.13. The stock has a market capitalization of $15.43 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 3.28 and a beta of 1.03.

Allegion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.55 dividend. This is a boost from Allegion’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, March 13th. This represents a $2.20 annualized dividend and a yield of 1.2%. Allegion’s payout ratio is 27.60%.

About Allegion

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.