Allegion (NYSE:ALLE) Price Target Lowered to $135.00 at Wells Fargo & Company

Allegion (NYSE:ALLE) had its price target lowered by equities researchers at Wells Fargo & Company from $140.00 to $135.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 6.26% from the company’s current price.

A number of other research analysts have also issued reports on ALLE. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Robert W. Baird dropped their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays dropped their target price on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Morgan Stanley began coverage on shares of Allegion in a research report on Monday, January 6th. They set an “equal weight” rating and a $137.00 target price for the company. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Allegion currently has a consensus rating of “Hold” and an average price target of $138.33.

Allegion Price Performance

Allegion stock opened at $127.05 on Wednesday. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The firm’s 50-day simple moving average is $131.32 and its 200 day simple moving average is $137.24. The firm has a market capitalization of $11.04 billion, a PE ratio of 18.63, a P/E/G ratio of 3.09 and a beta of 1.11.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.53%. On average, equities research analysts predict that Allegion will post 7.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the transaction, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John H. Stone purchased 7,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegion

Several institutional investors and hedge funds have recently made changes to their positions in the business. TD Private Client Wealth LLC boosted its stake in shares of Allegion by 0.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock valued at $2,871,000 after buying an additional 77 shares during the last quarter. Douglass Winthrop Advisors LLC boosted its stake in shares of Allegion by 0.4% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company’s stock valued at $2,911,000 after buying an additional 80 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Allegion by 2.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock valued at $425,000 after buying an additional 82 shares during the last quarter. Heritage Family Offices LLP boosted its stake in shares of Allegion by 3.2% during the 4th quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock valued at $346,000 after buying an additional 82 shares during the last quarter. Finally, Waterloo Capital L.P. boosted its stake in shares of Allegion by 1.2% during the 4th quarter. Waterloo Capital L.P. now owns 7,180 shares of the scientific and technical instruments company’s stock valued at $938,000 after buying an additional 83 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

About Allegion

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.