Robert W. Baird set a $85.00 target price on Allegion PLC (NYSE:ALLE) in a research note released on Thursday morning. The brokerage currently has a hold rating on the scientific and technical instruments company’s stock.
Several other research firms also recently issued reports on ALLE. Zacks Investment Research raised shares of Allegion PLC from a hold rating to a buy rating and set a $91.00 price objective on the stock in a report on Friday, June 30th. BidaskClub downgraded shares of Allegion PLC from a buy rating to a hold rating in a report on Sunday, July 16th. Credit Suisse Group reaffirmed a buy rating and set a $89.00 price objective on shares of Allegion PLC in a report on Friday, April 28th. Imperial Capital increased their price objective on shares of Allegion PLC from $79.00 to $85.00 and gave the company an outperform rating in a report on Friday, May 5th. Finally, Wolfe Research assumed coverage on shares of Allegion PLC in a report on Tuesday, July 11th. They set a market perform rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $86.00.
Allegion PLC (NYSE:ALLE) opened at 77.62 on Thursday. The stock has a 50 day moving average of $80.05 and a 200 day moving average of $77.53. The company has a market cap of $7.37 billion, a PE ratio of 30.03 and a beta of 1.10. Allegion PLC has a 12-month low of $61.47 and a 12-month high of $82.90.
Allegion PLC (NYSE:ALLE) last announced its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.11. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The firm had revenue of $627 million for the quarter, compared to the consensus estimate of $613.37 million. During the same period in the prior year, the firm posted $0.99 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts expect that Allegion PLC will post $3.78 earnings per share for the current year.
In other news, insider Timothy P. Eckersley sold 12,782 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $81.14, for a total value of $1,037,131.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd V. Graves sold 1,858 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $79.19, for a total transaction of $147,135.02. Following the completion of the sale, the insider now owns 12,084 shares of the company’s stock, valued at $956,931.96. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Allegion PLC by 1.9% in the second quarter. Vanguard Group Inc. now owns 9,295,692 shares of the scientific and technical instruments company’s stock worth $754,067,000 after buying an additional 175,432 shares during the period. BlackRock Inc. boosted its stake in shares of Allegion PLC by 14.3% in the second quarter. BlackRock Inc. now owns 5,955,519 shares of the scientific and technical instruments company’s stock worth $483,111,000 after buying an additional 746,516 shares during the period. State Street Corp boosted its stake in shares of Allegion PLC by 2.9% in the second quarter. State Street Corp now owns 5,207,209 shares of the scientific and technical instruments company’s stock worth $422,400,000 after buying an additional 146,138 shares during the period. American Century Companies Inc. boosted its stake in shares of Allegion PLC by 0.8% in the second quarter. American Century Companies Inc. now owns 1,901,388 shares of the scientific and technical instruments company’s stock worth $154,241,000 after buying an additional 14,656 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Allegion PLC by 44.8% in the second quarter. Artisan Partners Limited Partnership now owns 1,873,307 shares of the scientific and technical instruments company’s stock worth $151,963,000 after buying an additional 579,517 shares during the period. Institutional investors and hedge funds own 93.60% 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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