Allegion (NYSE:ALLE) Price Target Cut to $155.00 by Analysts at Wells Fargo & Company

Allegion (NYSE:ALLE) had its target price reduced by Wells Fargo & Company from $175.00 to $155.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the scientific and technical instruments company’s stock.

Several other research firms have also recently issued reports on ALLE. JPMorgan Chase & Co. dropped their price target on Allegion from $190.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a report on Wednesday, January 21st. Finally, Barclays cut their target price on Allegion from $180.00 to $176.00 and set an “equal weight” rating on the stock in a research report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $171.13.

Allegion Price Performance

Shares of NYSE ALLE opened at $144.36 on Wednesday. Allegion has a twelve month low of $116.57 and a twelve month high of $183.11. The company has a current ratio of 1.84, a quick ratio of 1.16 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average of $158.79 and a two-hundred day moving average of $164.27. The company has a market capitalization of $12.44 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 3.14 and a beta of 1.03.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 17th. The scientific and technical instruments company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.07). Allegion had a return on equity of 38.06% and a net margin of 15.83%.The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $1.86 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, analysts expect that Allegion will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were issued a dividend of $0.55 per share. This is an increase from Allegion’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, March 13th. Allegion’s dividend payout ratio (DPR) is presently 29.57%.

Insider Activity at Allegion

In related news, Director Steven Mizell sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $161.51, for a total value of $161,510.00. Following the completion of the transaction, the director owned 4,915 shares of the company’s stock, valued at approximately $793,821.65. This trade represents a 16.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sue Main acquired 2,000 shares of the stock in a transaction on Wednesday, March 11th. The shares were purchased at an average price of $149.61 per share, for a total transaction of $299,220.00. Following the completion of the transaction, the director owned 2,000 shares in the company, valued at approximately $299,220. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Forvis Mazars Wealth Advisors LLC purchased a new stake in shares of Allegion in the third quarter worth approximately $2,838,000. Burney Co. acquired a new position in Allegion in the 3rd quarter valued at approximately $9,297,000. Fusion Capital LLC acquired a new position in Allegion in the 3rd quarter valued at approximately $4,406,000. Berkshire Hathaway Inc purchased a new stake in Allegion in the 2nd quarter worth approximately $112,433,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Allegion by 5.1% in the 3rd 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 buying an additional 113,821 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Company Profile

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.