According to Zacks, “Allegion continuously updates its products and develops new ones to keep up with the shift in market preference towards electronic security products and solutions. The company’s acquisitions and divestitures, focus on innovation and solid footprint in the emerging markets are encouraging. Further, a gradually recovering U.S. housing market bodes well. Although, Allegion’s shares have outperformed the Zacks categorized Protection-Safety Equipment & Services industry in the last one year, estimates have been trending downwards. Also, global currency fluctuations remain headwinds for Allegion. Further, the seasonality of the company's business will dent profits.”
A number of other research analysts also recently issued reports on ALLE. Sanford C. Bernstein restated an outperform rating on shares of Allegion PLC in a research note on Thursday, December 15th. Imperial Capital raised their price target on Allegion PLC from $72.00 to $79.00 and gave the stock an outperform rating in a research note on Friday, February 10th. Finally, Credit Suisse Group AG restated a buy rating and set a $79.00 price target on shares of Allegion PLC in a research note on Friday, February 10th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Allegion PLC has an average rating of Buy and an average price target of $78.40.
Shares of Allegion PLC (NYSE:ALLE) traded down 0.01% on Friday, hitting $75.47. The stock had a trading volume of 223,813 shares. The firm’s 50-day moving average is $71.69 and its 200-day moving average is $67.99. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 31.98 and a beta of 1.07. Allegion PLC has a one year low of $61.47 and a one year high of $75.68.
Allegion PLC (NYSE:ALLE) last released its quarterly earnings results on Thursday, February 9th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by $0.06. The firm had revenue of $569.70 million for the quarter, compared to analysts’ expectations of $573.26 million. Allegion PLC had a return on equity of 263.12% and a net margin of 10.24%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 EPS. On average, analysts expect that Allegion PLC will post $3.69 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be paid a $0.16 dividend. This is an increase from Allegion PLC’s previous quarterly dividend of $0.12. This represents a $0.64 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, March 13th. Allegion PLC’s dividend payout ratio (DPR) is 20.25%.
In other Allegion PLC news, insider Tracy L. Kemp sold 7,786 shares of Allegion PLC stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $72.92, for a total value of $567,755.12. Following the transaction, the insider now directly owns 14,636 shares in the company, valued at approximately $1,067,257.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris E. Muhlenkamp sold 4,263 shares of Allegion PLC stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $71.26, for a total value of $303,781.38. Following the completion of the transaction, the insider now owns 16,801 shares in the company, valued at $1,197,239.26. The disclosure for this sale can be found here. Insiders sold a total of 36,606 shares of company stock worth $2,637,185 over the last quarter. Company insiders own 0.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. NEXT Financial Group Inc increased its position in shares of Allegion PLC by 4,545.5% in the third quarter. NEXT Financial Group Inc now owns 1,533 shares of the company’s stock valued at $106,000 after buying an additional 1,500 shares during the period. Creative Planning increased its position in shares of Allegion PLC by 1.7% in the third quarter. Creative Planning now owns 1,804 shares of the company’s stock valued at $124,000 after buying an additional 31 shares during the period. Victory Capital Management Inc. increased its position in shares of Allegion PLC by 50.0% in the third quarter. Victory Capital Management Inc. now owns 1,832 shares of the company’s stock valued at $126,000 after buying an additional 611 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Allegion PLC by 5.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,205 shares of the company’s stock valued at $144,000 after buying an additional 111 shares during the period. Finally, Guyasuta Investment Advisors Inc. bought a new position in shares of Allegion PLC during the third quarter valued at $204,000. Institutional investors own 90.50% of the company’s stock.
Allegion PLC 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. It operates through three segments: Americas; Europe, the Middle East, India and Africa (EMEIA), and Asia Pacific. The Company’s products include door closers and controls, electronic security products, exit devices, time, attendance and workforce productivity systems, door and door frames (steel), electronic and biometric access control systems, locks, locksets and key systems, and other accessories.
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