Allegion (NYSE:ALLE) Given New $140.00 Price Target at Wells Fargo & Company

Allegion (NYSE:ALLE) had its target price cut by equities research analysts at Wells Fargo & Company from $152.00 to $140.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 9.56% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Robert W. Baird boosted their target price on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Morgan Stanley began coverage on Allegion in a report on Monday. They set an “equal weight” rating and a $137.00 price objective for the company. Barclays raised their target price on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. Finally, Mizuho boosted their price target on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $141.33.

Allegion Price Performance

NYSE ALLE traded down $1.34 during trading hours on Tuesday, reaching $127.78. 98,208 shares of the company’s stock were exchanged, compared to its average volume of 486,875. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The stock has a market cap of $11.11 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11. The firm has a fifty day moving average of $137.90 and a 200-day moving average of $135.72. Allegion has a one year low of $113.27 and a one year high of $156.10.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. During the same period in the previous year, the firm posted $1.94 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Allegion will post 7.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the sale, the senior vice president now owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John H. Stone bought 7,500 shares of Allegion stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired 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 directly owns 120,481 shares of the company’s stock, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortem Financial Group LLC raised its holdings in shares of Allegion by 4.6% in the 4th quarter. Fortem Financial Group LLC now owns 5,604 shares of the scientific and technical instruments company’s stock valued at $732,000 after purchasing an additional 245 shares during the period. Nordea Investment Management AB increased its position in Allegion by 4.4% during the fourth quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock worth $154,643,000 after buying an additional 49,176 shares during the last quarter. GAMMA Investing LLC raised its stake in Allegion by 55.6% in the fourth quarter. GAMMA Investing LLC now owns 504 shares of the scientific and technical instruments company’s stock valued at $66,000 after buying an additional 180 shares during the period. Versant Capital Management Inc lifted its position in shares of Allegion by 271.5% in the fourth quarter. Versant Capital Management Inc now owns 613 shares of the scientific and technical instruments company’s stock valued at $80,000 after buying an additional 448 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Allegion by 31.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 801,520 shares of the scientific and technical instruments company’s stock worth $116,814,000 after acquiring an additional 192,609 shares during the period. 92.21% of the stock is owned by institutional investors.

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.