Allegion (NYSE:ALLE) Price Target Cut to $157.00 by Analysts at Bank of America

Allegion (NYSE:ALLE) had its price target decreased by Bank of America from $185.00 to $157.00 in a report published on Monday,Benzinga reports. Bank of America currently has a neutral rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also weighed in on the stock. Evercore upgraded shares of Allegion to a “strong-buy” rating in a report on Monday, April 13th. JPMorgan Chase & Co. reduced their price objective on shares of Allegion from $190.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Wells Fargo & Company reduced their price objective on shares of Allegion from $175.00 to $155.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a report on Wednesday, January 21st. Finally, Barclays reduced their price objective on shares of Allegion from $176.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $168.88.

Allegion Stock Performance

Shares of ALLE stock opened at $145.35 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.84 and a debt-to-equity ratio of 0.96. Allegion has a 52 week low of $122.14 and a 52 week high of $183.11. The stock has a market capitalization of $12.52 billion, a PE ratio of 19.54, a P/E/G ratio of 3.12 and a beta of 1.02. The firm has a 50 day moving average of $152.03 and a two-hundred day moving average of $161.14.

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 for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.07). Allegion had a net margin of 15.83% and a return on equity of 38.06%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business posted $1.86 earnings per share. Allegion’s revenue for the quarter was up 9.3% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, research analysts predict that Allegion will post 8.75 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, June 15th. Allegion’s dividend payout ratio is presently 29.57%.

Insider Transactions at Allegion

In other Allegion news, Director Sue Main bought 2,000 shares of Allegion stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average cost of $149.61 per share, with a total value of $299,220.00. Following the completion of the acquisition, the director owned 2,000 shares of the company’s stock, valued at approximately $299,220. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven Mizell sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $161.51, for a total transaction of $161,510.00. Following the completion of the sale, the director directly owned 4,915 shares of the company’s stock, valued at $793,821.65. The trade was a 16.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allegion

Institutional investors and hedge funds have recently made changes to their positions in the business. Westside Investment Management Inc. increased its stake in shares of Allegion by 100.0% during the third quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 70 shares during the period. Pinnacle Bancorp Inc. increased its stake in shares of Allegion by 255.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 115 shares during the period. First Horizon Corp acquired a new position in shares of Allegion during the third quarter worth about $26,000. Hantz Financial Services Inc. increased its stake in shares of Allegion by 120.9% during the third quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock worth $26,000 after acquiring an additional 81 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Allegion during the third quarter worth about $29,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.