Credit Suisse Group initiated coverage on shares of Allegion (NYSE:ALLE) in a research report released on Friday, MarketBeat.com reports. The firm issued an outperform rating and a $96.00 price objective on the scientific and technical instruments company’s stock.

ALLE has been the topic of a number of other research reports. Morgan Stanley began coverage on shares of Allegion in a report on Monday, August 20th. They set an equal weight rating and a $88.00 price target on the stock. Zacks Investment Research downgraded shares of Allegion from a buy rating to a hold rating in a report on Friday, July 20th. Wells Fargo & Co dropped their price target on shares of Allegion from $100.00 to $96.00 and set an outperform rating on the stock in a report on Tuesday, July 17th. Finally, ValuEngine raised shares of Allegion from a sell rating to a hold rating in a report on Wednesday, July 18th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Allegion currently has a consensus rating of Buy and an average price target of $94.33.

NYSE:ALLE traded up $1.01 on Friday, reaching $83.77. 696,017 shares of the stock traded hands, compared to its average volume of 736,920. The firm has a market cap of $8.60 billion, a P/E ratio of 21.15, a P/E/G ratio of 1.54 and a beta of 1.07. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.24 and a current ratio of 1.80. Allegion has a 12 month low of $73.85 and a 12 month high of $92.87.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, July 26th. The scientific and technical instruments company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. The business had revenue of $704.70 million during the quarter, compared to analyst estimates of $697.96 million. Allegion had a net margin of 11.19% and a return on equity of 91.38%. Allegion’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the business earned $1.11 EPS. On average, equities research analysts predict that Allegion will post 4.47 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Monday, September 17th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, September 14th. Allegion’s payout ratio is presently 21.21%.

In other news, insider Douglas P. Ranck sold 3,200 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $89.78, for a total transaction of $287,296.00. Following the sale, the insider now owns 10,348 shares of the company’s stock, valued at approximately $929,043.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.75% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dorsey Wright & Associates purchased a new position in shares of Allegion in the third quarter worth approximately $1,581,000. Bank of Montreal Can boosted its holdings in shares of Allegion by 36.1% in the third quarter. Bank of Montreal Can now owns 58,468 shares of the scientific and technical instruments company’s stock worth $5,295,000 after buying an additional 15,521 shares during the last quarter. Douglass Winthrop Advisors LLC boosted its holdings in shares of Allegion by 69.6% in the third quarter. Douglass Winthrop Advisors LLC now owns 28,905 shares of the scientific and technical instruments company’s stock worth $2,601,000 after buying an additional 11,865 shares during the last quarter. Vigilant Capital Management LLC boosted its holdings in shares of Allegion by 2.3% in the third quarter. Vigilant Capital Management LLC now owns 161,655 shares of the scientific and technical instruments company’s stock worth $14,641,000 after buying an additional 3,595 shares during the last quarter. Finally, Lourd Capital LLC purchased a new position in shares of Allegion in the third quarter worth approximately $257,000. 94.55% of the stock is currently owned by institutional investors.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.

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Analyst Recommendations for Allegion (NYSE:ALLE)

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