Wells Fargo & Company Increases Allegion (NYSE:ALLE) Price Target to $152.00
by Mitch Edgeman · The Markets DailyAllegion (NYSE:ALLE – Free Report) had its price objective increased by Wells Fargo & Company from $137.00 to $152.00 in a research note published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the scientific and technical instruments company’s stock.
A number of other analysts have also recently weighed in on the company. Barclays raised their price target on Allegion from $117.00 to $135.00 and gave the company an underweight rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Allegion from a hold rating to a buy rating in a research note on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $132.00.
Read Our Latest Research Report on ALLE
Allegion Stock Up 0.8 %
Shares of NYSE ALLE opened at $146.55 on Monday. The stock has a market cap of $12.81 billion, a P/E ratio of 23.91, a PEG ratio of 4.38 and a beta of 1.12. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. Allegion has a 12-month low of $95.94 and a 12-month high of $147.14. The business’s fifty day simple moving average is $137.68 and its 200-day simple moving average is $128.79.
Allegion (NYSE:ALLE – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company had revenue of $965.60 million for the quarter, compared to analysts’ expectations of $953.63 million. During the same period last year, the firm earned $1.76 earnings per share. Allegion’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Allegion will post 7.26 EPS for the current fiscal year.
Allegion Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s dividend payout ratio (DPR) is currently 31.32%.
Institutional Trading of Allegion
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC grew its holdings in shares of Allegion by 160.2% during the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 149 shares during the last quarter. Gradient Investments LLC purchased a new position in shares of Allegion during the second quarter worth about $38,000. Kimelman & Baird LLC purchased a new position in shares of Allegion during the second quarter worth about $39,000. Blue Trust Inc. grew its holdings in shares of Allegion by 54.0% during the second quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after buying an additional 121 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Allegion by 255.7% during the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.
Allegion Company Profile
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.
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