Credit Suisse Group started coverage on shares of Allegion (NYSE:ALLE) in a research note published on Friday, Marketbeat reports. The brokerage issued an outperform rating and a $96.00 price target on the scientific and technical instruments company’s stock.
ALLE has been the subject of several other research reports. Zacks Investment Research raised shares of Allegion from a sell rating to a hold rating in a research report on Monday, July 9th. ValuEngine cut shares of Allegion from a hold rating to a sell rating in a research report on Thursday, June 21st. Wells Fargo & Co dropped their price target on shares of Allegion from $100.00 to $96.00 and set an outperform rating for the company in a research report on Tuesday, July 17th. Finally, Morgan Stanley started coverage on shares of Allegion in a research report on Monday, August 20th. They set an equal weight rating and a $88.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $94.33.
Shares of Allegion stock traded up $1.01 during trading on Friday, reaching $83.77. The company’s stock had a trading volume of 696,017 shares, compared to its average volume of 736,920. Allegion has a 52-week low of $73.85 and a 52-week high of $92.87. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 1.54 and a beta of 1.07. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.24 and a current ratio of 1.80.
Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, July 26th. The scientific and technical instruments company reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.05. The company had revenue of $704.70 million during the quarter, compared to analysts’ expectations of $697.96 million. Allegion had a net margin of 11.19% and a return on equity of 91.38%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. On average, equities research analysts forecast that Allegion will post 4.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Monday, September 17th were given a dividend of $0.21 per share. The ex-dividend date was Friday, September 14th. This represents a $0.84 annualized dividend and a yield of 1.00%. Allegion’s payout ratio is currently 21.21%.
In other Allegion news, insider Douglas P. Ranck sold 3,200 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $89.78, for a total value of $287,296.00. Following the completion of the transaction, the insider now directly owns 10,348 shares in the company, valued at approximately $929,043.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fort L.P. bought a new position in shares of Allegion in the 2nd quarter worth about $119,000. Visionary Asset Management Inc. bought a new position in shares of Allegion in the 3rd quarter worth about $231,000. Mission Wealth Management LP bought a new position in shares of Allegion in the 2nd quarter worth about $200,000. Intrust Bank NA bought a new position in shares of Allegion in the 2nd quarter worth about $205,000. Finally, Lourd Capital LLC bought a new position in shares of Allegion in the 3rd quarter worth about $257,000. Institutional investors and hedge funds own 94.55% of the company’s stock.
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.
Further Reading: Why is the ex-dividend date different from the record date?
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