Allegion PLC (ALLE) Downgraded by BidaskClub to “Hold”

BidaskClub lowered shares of Allegion PLC (NYSE:ALLE) from a buy rating to a hold rating in a research report report published on Tuesday morning.

ALLE has been the topic of several other reports. Zacks Investment Research lowered Allegion PLC from a buy rating to a hold rating in a research report on Monday. Credit Suisse Group restated a buy rating and set a $89.00 price target on shares of Allegion PLC in a research report on Friday, April 28th. Imperial Capital raised their price target on Allegion PLC from $79.00 to $85.00 and gave the stock an outperform rating in a research report on Friday, May 5th. Finally, Robert W. Baird lowered Allegion PLC from an outperform rating to a neutral rating and raised their price target for the stock from $80.00 to $85.00 in a research report on Friday, April 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $85.40.

Allegion PLC (NYSE ALLE) traded up 0.93% on Tuesday, reaching $80.02. The company’s stock had a trading volume of 127,284 shares. Allegion PLC has a 52-week low of $61.47 and a 52-week high of $82.00. The firm has a market cap of $7.62 billion, a PE ratio of 32.41 and a beta of 1.11. The stock’s 50 day moving average price is $78.31 and its 200 day moving average price is $72.25.

Allegion PLC (NYSE:ALLE) last posted its quarterly earnings results on Thursday, April 27th. The scientific and technical instruments company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.04. Allegion PLC had a return on equity of 234.79% and a net margin of 10.50%. The business had revenue of $548.80 million for the quarter, compared to analyst estimates of $536.97 million. During the same period last year, the company earned $0.61 EPS. Allegion PLC’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts expect that Allegion PLC will post $3.72 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.81%. Allegion PLC’s dividend payout ratio is currently 25.81%.

In other news, SVP Jeffrey N. Braun sold 7,455 shares of Allegion PLC stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $79.46, for a total value of $592,374.30. Following the sale, the senior vice president now directly owns 7,250 shares in the company, valued at approximately $576,085. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Todd V. Graves sold 1,858 shares of Allegion PLC stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $79.19, for a total value of $147,135.02. Following the completion of the sale, the insider now owns 12,084 shares in the company, valued at $956,931.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,384 shares of company stock worth $1,064,660. Corporate insiders own 0.64% of the company’s stock.

Several large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Allegion PLC by 210.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,414 shares of the scientific and technical instruments company’s stock worth $107,000 after buying an additional 959 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Allegion PLC by 46.1% in the first quarter. Goldman Sachs Group Inc. now owns 783,340 shares of the scientific and technical instruments company’s stock worth $59,300,000 after buying an additional 247,014 shares in the last quarter. Bank of Nova Scotia purchased a new position in Allegion PLC during the first quarter worth approximately $601,000. Broderick Brian C purchased a new position in Allegion PLC during the first quarter worth approximately $230,000. Finally, Notis McConarty Edward purchased a new position in Allegion PLC during the first quarter worth approximately $202,000. Hedge funds and other institutional investors own 90.81% 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ALLE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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