Allegion PLC (ALLE) Receives Consensus Rating of “Buy” from Brokerages
Shares of Allegion PLC (NYSE:ALLE) have earned an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $86.00.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Allegion PLC from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Friday, June 30th. BidaskClub downgraded Allegion PLC from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Robert W. Baird set a $85.00 price target on Allegion PLC and gave the stock a “hold” rating in a research note on Thursday, August 24th. Finally, Wolfe Research assumed coverage on Allegion PLC in a research note on Tuesday, July 11th. They set a “market perform” rating for the company.
In related news, insider Timothy P. Eckersley sold 12,782 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $81.14, for a total value of $1,037,131.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.64% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of ALLE. Bank of Montreal Can raised its stake in shares of Allegion PLC by 2.5% in the 1st quarter. Bank of Montreal Can now owns 23,032 shares of the scientific and technical instruments company’s stock valued at $1,743,000 after acquiring an additional 571 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Allegion PLC by 2.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 47,698 shares of the scientific and technical instruments company’s stock valued at $3,607,000 after acquiring an additional 990 shares in the last quarter. Suntrust Banks Inc. bought a new position in shares of Allegion PLC in the 1st quarter valued at approximately $208,000. BNP Paribas Arbitrage SA raised its stake in shares of Allegion PLC by 0.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 67,223 shares of the scientific and technical instruments company’s stock valued at $5,089,000 after acquiring an additional 522 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of Allegion PLC by 12.7% in the 1st quarter. LS Investment Advisors LLC now owns 2,885 shares of the scientific and technical instruments company’s stock valued at $218,000 after acquiring an additional 326 shares in the last quarter. 89.86% of the stock is currently owned by institutional investors and hedge funds.
Allegion PLC (ALLE) traded up 0.74% during mid-day trading on Friday, reaching $80.81. 512,543 shares of the company were exchanged. The stock’s 50-day moving average is $79.53 and its 200-day moving average is $78.06. The company has a market cap of $7.68 billion, a P/E ratio of 31.26 and a beta of 1.10. Allegion PLC has a 12 month low of $61.47 and a 12 month high of $82.90.
Allegion PLC (NYSE:ALLE) last posted its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.11. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The company had revenue of $627 million during the quarter, compared to the consensus estimate of $613.37 million. During the same period last year, the business earned $0.99 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Allegion PLC will post $3.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, September 15th. Allegion PLC’s payout ratio is 24.62%.
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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. 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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