Allegion PLC (NYSE:ALLE) has received an average recommendation of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $96.00.
ALLE has been the topic of a number of research reports. Zacks Investment Research raised shares of Allegion from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Wells Fargo & Co boosted their target price on shares of Allegion from $96.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, October 26th. Finally, ValuEngine raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Wednesday.
Get Allegion alerts:Shares of NYSE:ALLE traded down $0.12 during trading on Friday, reaching $91.56. The stock had a trading volume of 2,165,961 shares, compared to its average volume of 688,638. Allegion has a 52 week low of $73.85 and a 52 week high of $94.30. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 2.37.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.18%. This is a positive change from Allegion’s previous quarterly dividend of $0.21. Allegion’s payout ratio is 21.21%.
A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank increased its position in Allegion by 44.9% during the fourth quarter. Amalgamated Bank now owns 22,010 shares of the scientific and technical instruments company’s stock worth $1,754,000 after acquiring an additional 6,816 shares during the period. Hancock Whitney Corp increased its holdings in Allegion by 19.5% in the 4th quarter. Hancock Whitney Corp now owns 6,086 shares of the scientific and technical instruments company’s stock valued at $485,000 after buying an additional 993 shares during the period. Legal & General Group Plc increased its holdings in Allegion by 6.6% in the 4th quarter. Legal & General Group Plc now owns 482,387 shares of the scientific and technical instruments company’s stock valued at $38,451,000 after buying an additional 29,665 shares during the period. Cipher Capital LP bought a new stake in Allegion in the 4th quarter valued at $264,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Allegion in the 4th quarter valued at $1,344,000. 96.87% 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 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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