Zacks Investment Research downgraded shares of Allegion (NYSE:ALLE) from a buy rating to a hold rating in a research report released on Wednesday.

According to Zacks, “Shares of Allegion have outperformed its industry so far this year. The company continuously updates its products to keep up with shifting market preference toward electronic security products and solutions. The company’s acquisitions, divestitures, focus on innovation and solid footprint in emerging markets are encouraging. Further, a gradually recovering U.S. housing market bodes well. However, global currency fluctuations raise concerns. Further, the seasonality of the company's business is a drag. “

A number of other analysts also recently weighed in on ALLE. Wells Fargo restated an outperform rating and issued a $105.00 target price (up previously from $100.00) on shares of Allegion in a research report on Wednesday, February 21st. Imperial Capital restated an outperform rating and issued a $94.00 target price (up previously from $85.00) on shares of Allegion in a research report on Wednesday, February 21st. Finally, Barclays began coverage on Allegion in a research report on Thursday, February 15th. They issued an overweight rating and a $100.00 target price for the company. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Allegion presently has a consensus rating of Buy and an average price target of $95.83.

NYSE:ALLE opened at $77.83 on Wednesday. The company has a market capitalization of $7,883.99, a P/E ratio of 19.65, a PEG ratio of 1.50 and a beta of 1.05. Allegion has a 1-year low of $75.50 and a 1-year high of $89.81. The company has a quick ratio of 1.72, a current ratio of 2.24 and a debt-to-equity ratio of 3.56.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, April 26th. The scientific and technical instruments company reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.04). The firm had revenue of $613.10 million during the quarter, compared to the consensus estimate of $605.47 million. Allegion had a return on equity of 126.46% and a net margin of 11.35%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. equities analysts forecast that Allegion will post 4.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.84 annualized dividend and a yield of 1.08%. Allegion’s payout ratio is currently 21.21%.

In other Allegion news, CFO Patrick S. Shannon sold 20,200 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $85.83, for a total value of $1,733,766.00. Following the completion of the sale, the chief financial officer now owns 68,790 shares in the company, valued at $5,904,245.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris E. Muhlenkamp sold 3,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.33, for a total value of $340,485.52. Following the completion of the sale, the insider now owns 17,527 shares of the company’s stock, valued at approximately $1,513,105.91. The disclosure for this sale can be found here. Insiders sold 57,415 shares of company stock valued at $4,924,641 in the last quarter. Corporate insiders own 0.64% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its position in Allegion by 109.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,326 shares of the scientific and technical instruments company’s stock valued at $105,000 after purchasing an additional 692 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of Allegion during the fourth quarter valued at approximately $111,000. Zeke Capital Advisors LLC bought a new position in shares of Allegion during the fourth quarter valued at approximately $205,000. Pineno Levin & Ford Asset Management Inc. bought a new position in shares of Allegion during the fourth quarter valued at approximately $210,000. Finally, Allianz Asset Management GmbH bought a new position in shares of Allegion during the third quarter valued at approximately $211,000. Hedge funds and other institutional investors own 92.49% of the company’s stock.

Allegion Company Profile

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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