Allegion plc (NYSE:ALLE) Receives Average Rating of “Moderate Buy” from Analysts

Posted by Defense World Staff on Aug 6th, 2023

Allegion plc (NYSE:ALLE – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $123.50.

A number of research analysts recently issued reports on ALLE shares. The Goldman Sachs Group decreased their price objective on shares of Allegion from $138.00 to $119.00 and set a “buy” rating for the company in a report on Friday, April 14th. Robert W. Baird boosted their price objective on shares of Allegion from $126.00 to $132.00 in a report on Thursday, July 27th. Barclays boosted their price objective on shares of Allegion from $120.00 to $130.00 in a report on Monday, July 10th. Wells Fargo & Company reduced their price target on shares of Allegion from $130.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday, April 13th. Finally, StockNews.com assumed coverage on shares of Allegion in a report on Thursday, May 18th. They issued a “hold” rating for the company.

Insiders Place Their Bets

In other news, CEO John H. Stone purchased 17,500 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were purchased at an average cost of $116.62 per share, with a total value of $2,040,850.00. Following the completion of the transaction, the chief executive officer now owns 94,248 shares of the company’s stock, valued at approximately $10,991,201.76. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO John H. Stone acquired 17,500 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were purchased at an average cost of $116.62 per share, for a total transaction of $2,040,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 94,248 shares in the company, valued at $10,991,201.76. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jennifer L. Hawes sold 750 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $117.50, for a total transaction of $88,125.00. Following the completion of the transaction, the senior vice president now owns 4,488 shares in the company, valued at $527,340. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Allegion

Several institutional investors and hedge funds have recently modified their holdings of ALLE. Van ECK Associates Corp increased its holdings in shares of Allegion by 147.4% in the second quarter. Van ECK Associates Corp now owns 2,305,995 shares of the scientific and technical instruments company’s stock valued at $276,766,000 after purchasing an additional 1,373,811 shares during the last quarter. BlackRock Inc. grew its stake in shares of Allegion by 15.8% in the first quarter. BlackRock Inc. now owns 8,631,077 shares of the scientific and technical instruments company’s stock valued at $921,195,000 after acquiring an additional 1,176,087 shares in the last quarter. Norges Bank acquired a new position in shares of Allegion in the fourth quarter valued at about $76,640,000. Mackenzie Financial Corp acquired a new position in shares of Allegion in the first quarter valued at about $43,179,000. Finally, Renaissance Technologies LLC grew its stake in shares of Allegion by 96.6% in the first quarter. Renaissance Technologies LLC now owns 616,605 shares of the scientific and technical instruments company’s stock valued at $65,810,000 after acquiring an additional 303,005 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Allegion Trading Up 0.3 %

Shares of ALLE opened at $111.91 on Friday. Allegion has a 12-month low of $87.33 and a 12-month high of $128.36. The stock’s fifty day simple moving average is $117.01 and its 200-day simple moving average is $112.20. The company has a quick ratio of 1.20, a current ratio of 1.93 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $9.82 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 3.04 and a beta of 1.11.

Allegion (NYSE:ALLE – Get Free Report) last posted its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.04. The company had revenue of $912.50 million during the quarter, compared to analyst estimates of $936.25 million. Allegion had a return on equity of 59.20% and a net margin of 14.27%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 EPS. As a group, research analysts predict that Allegion will post 6.77 earnings per share for the current year.

About Allegion

(Get Free Report

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.