Allegion PLC Plans Quarterly Dividend of $0.16 (ALLE)
Allegion PLC (NYSE:ALLE) declared a quarterly dividend on Thursday, September 7th, NASDAQ reports. Stockholders of record on Monday, September 18th will be paid a dividend of 0.16 per share by the scientific and technical instruments company on Friday, September 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, September 15th.
Allegion PLC has a dividend payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Allegion PLC to earn $4.12 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 15.5%.
Allegion PLC (NYSE:ALLE) opened at 80.22 on Friday. Allegion PLC has a 52 week low of $61.47 and a 52 week high of $82.90. The stock has a market cap of $7.62 billion, a P/E ratio of 31.03 and a beta of 1.10. The stock has a 50 day moving average price of $79.54 and a 200-day moving average price of $78.04.
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 for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.11. The company had revenue of $627 million during the quarter, compared to the consensus estimate of $613.37 million. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 earnings per share. On average, equities analysts anticipate that Allegion PLC will post $3.78 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. Robert W. Baird set a $85.00 price target on shares of Allegion PLC and gave the company a “hold” rating in a research report on Thursday, August 24th. BidaskClub downgraded shares of Allegion PLC from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Zacks Investment Research raised shares of Allegion PLC from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Friday, June 30th. Imperial Capital raised their price target on shares of Allegion PLC from $79.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Finally, Wolfe Research assumed coverage on shares of Allegion PLC in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $86.00.
In other Allegion PLC news, insider Timothy P. Eckersley sold 12,782 shares of Allegion PLC stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.14, for a total value of $1,037,131.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.64% 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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