Allegion PLC (NYSE:ALLE) had its price target boosted by Imperial Capital from $72.00 to $79.00 in a research report issued to clients and investors on Friday. The brokerage presently has an “outperform” rating on the stock. Imperial Capital’s target price would suggest a potential upside of 10.57% from the stock’s previous close.
A number of other research analysts have also recently commented on the stock. Sanford C. Bernstein restated an “outperform” rating on shares of Allegion PLC in a research note on Thursday, December 15th. Zacks Investment Research cut shares of Allegion PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, February 7th. Finally, TheStreet upgraded shares of Allegion PLC from a “hold” rating to a “buy” rating in a research note on Tuesday, November 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $78.40.
Allegion PLC (NYSE:ALLE) opened at 71.45 on Friday. The company’s 50-day moving average price is $66.22 and its 200-day moving average price is $67.71. The stock has a market cap of $6.83 billion, a P/E ratio of 30.28 and a beta of 1.07. Allegion PLC has a 1-year low of $56.88 and a 1-year high of $73.49.
Allegion PLC (NYSE:ALLE) last released its earnings results on Thursday, February 9th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by $0.06. Allegion PLC had a return on equity of 263.12% and a net margin of 10.24%. The firm had revenue of $569.70 million for the quarter, compared to analyst estimates of $573.26 million. During the same period last year, the business earned $0.89 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts predict that Allegion PLC will post $3.69 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost from Allegion PLC’s previous quarterly dividend of $0.12. Allegion PLC’s payout ratio is 20.25%.
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In other news, insider Timothy P. Eckersley sold 24,557 shares of Allegion PLC stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $71.90, for a total value of $1,765,648.30. Following the completion of the transaction, the insider now owns 61,416 shares in the company, valued at $4,415,810.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ALLE. NEXT Financial Group Inc boosted its position in 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 boosted its position in 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. boosted its position in 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. Guyasuta Investment Advisors Inc. bought a new position in Allegion PLC during the third quarter valued at $204,000. Finally, Municipal Employees Retirement System of Michigan boosted its position in Allegion PLC by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,030 shares of the company’s stock valued at $209,000 after buying an additional 10 shares during the period. Institutional investors own 90.50% 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. 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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