Allegion PLC (ALLE) Cut to Hold at BidaskClub

BidaskClub cut shares of Allegion PLC (NYSE:ALLE) from a buy rating to a hold rating in a research note released on Tuesday morning.

A number of other research firms also recently commented on ALLE. Zacks Investment Research upgraded shares of Allegion PLC from a sell rating to a hold rating and set a $84.00 price objective for the company in a research note on Tuesday, April 11th. Imperial Capital increased their price objective on shares of Allegion PLC from $79.00 to $85.00 and gave the stock an outperform rating in a research note on Monday, May 15th. Robert W. Baird downgraded shares of Allegion PLC from an outperform rating to a neutral rating and increased their price objective for the stock from $80.00 to $85.00 in a research note on Friday, April 28th. Finally, Credit Suisse Group restated a buy rating and set a $89.00 price objective on shares of Allegion PLC in a research note on Friday, April 28th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $85.40.

Shares of Allegion PLC (ALLE) opened at 80.75 on Tuesday. Allegion PLC has a 12 month low of $61.47 and a 12 month high of $82.00. The firm has a 50 day moving average price of $78.37 and a 200-day moving average price of $72.37. The firm has a market cap of $7.69 billion, a PE ratio of 32.71 and a beta of 1.11.

Allegion PLC (NYSE:ALLE) last posted its quarterly earnings data on Thursday, April 27th. The scientific and technical instruments company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.04. Allegion PLC had a net margin of 10.50% and a return on equity of 234.79%. The company had revenue of $548.80 million during the quarter, compared to the consensus estimate of $536.97 million. During the same period in the prior year, the business posted $0.61 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts predict that Allegion PLC will post $3.72 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.64 annualized dividend and a yield of 0.79%. Allegion PLC’s dividend payout ratio (DPR) is currently 25.81%.

In related news, SVP Jeffrey N. Braun sold 7,455 shares of the firm’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $79.46, for a total value of $592,374.30. Following the completion of the sale, the senior vice president now directly owns 7,250 shares in the company, valued at approximately $576,085. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey M. Wood sold 4,071 shares of the firm’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $79.87, for a total transaction of $325,150.77. Following the completion of the sale, the insider now owns 1,938 shares of the company’s stock, valued at $154,788.06. The disclosure for this sale can be found here. Insiders sold a total of 13,384 shares of company stock valued at $1,064,660 over the last quarter. 0.64% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in shares of Allegion PLC by 210.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,414 shares of the scientific and technical instruments company’s stock valued at $107,000 after buying an additional 959 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Allegion PLC by 5.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,205 shares of the scientific and technical instruments company’s stock valued at $144,000 after buying an additional 111 shares during the period. First Manhattan Co. increased its stake in shares of Allegion PLC by 51.3% in the first quarter. First Manhattan Co. now owns 2,212 shares of the scientific and technical instruments company’s stock valued at $152,000 after buying an additional 750 shares during the period. Creative Planning increased its stake in shares of Allegion PLC by 10.9% in the first quarter. Creative Planning now owns 2,080 shares of the scientific and technical instruments company’s stock valued at $157,000 after buying an additional 205 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Allegion PLC by 2.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,256 shares of the scientific and technical instruments company’s stock valued at $171,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

About Allegion PLC

Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.

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