Morgan Stanley Begins Coverage on Allegion (NYSE:ALLE)

Equities researchers at Morgan Stanley began coverage on shares of Allegion (NYSE:ALLE) in a report issued on Monday, MarketBeat Ratings reports. The firm set an “equal weight” rating and a $137.00 price target on the scientific and technical instruments company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 7.62% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Barclays increased their price target on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Mizuho lifted their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted their price target on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Robert W. Baird raised their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $141.33.

Allegion Stock Performance

NYSE:ALLE opened at $127.30 on Monday. The firm has a market cap of $11.07 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10. The firm’s fifty day moving average price is $137.90 and its 200 day moving average price is $135.72.

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

Insiders Place Their Bets

In other news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the sale, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. The trade was a 53.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John H. Stone bought 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allegion

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALLE. McClarren Financial Advisors Inc. grew its stake in shares of Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 72 shares in the last quarter. Brooklyn Investment Group purchased a new position in Allegion in the 3rd quarter valued at about $28,000. Concord Wealth Partners purchased a new stake in shares of Allegion during the third quarter worth about $29,000. Cromwell Holdings LLC increased its holdings in Allegion by 65.2% during the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 92 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Allegion by 66.2% in the 3rd quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock valued at $47,000 after purchasing an additional 129 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.