Allegion PLC (ALLE) Receives Average Recommendation of “Buy” from Analysts
Allegion PLC (NYSE:ALLE) has received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $86.25.
Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Allegion PLC from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Friday, June 30th. BidaskClub cut shares of Allegion PLC from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Robert W. Baird set a $85.00 price objective on shares of Allegion PLC and gave the company a “hold” rating in a research report on Thursday, August 24th. Finally, Wolfe Research assumed coverage on shares of Allegion PLC in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock.
Shares of Allegion PLC (NYSE:ALLE) traded down 0.85% on Wednesday, reaching $86.73. 828,509 shares of the company’s stock traded hands. The firm has a market cap of $8.24 billion, a P/E ratio of 33.55 and a beta of 1.13. The company’s 50-day moving average price is $81.23 and its 200 day moving average price is $79.35. Allegion PLC has a one year low of $61.47 and a one year high of $87.76.
Allegion PLC (NYSE:ALLE) last posted its quarterly earnings data 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 firm had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $613.37 million. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $0.99 EPS. On average, equities analysts forecast that Allegion PLC will post $3.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, September 15th. Allegion PLC’s payout ratio is presently 24.62%.
In other Allegion PLC news, insider Timothy P. Eckersley sold 12,782 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in ALLE. BlackRock Inc. increased its position in shares of Allegion PLC by 5,286.4% in the first quarter. BlackRock Inc. now owns 5,209,003 shares of the scientific and technical instruments company’s stock valued at $394,319,000 after acquiring an additional 5,112,297 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Allegion PLC by 1,505.9% in the second quarter. UBS Asset Management Americas Inc. now owns 1,397,478 shares of the scientific and technical instruments company’s stock valued at $113,363,000 after acquiring an additional 1,310,457 shares during the period. Egerton Capital UK LLP purchased a new position in shares of Allegion PLC in the second quarter valued at about $102,557,000. Alliancebernstein L.P. increased its position in shares of Allegion PLC by 92.2% in the second quarter. Alliancebernstein L.P. now owns 1,645,398 shares of the scientific and technical instruments company’s stock valued at $133,475,000 after acquiring an additional 789,183 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in shares of Allegion PLC by 44.8% in the second quarter. Artisan Partners Limited Partnership now owns 1,873,307 shares of the scientific and technical instruments company’s stock valued at $151,963,000 after acquiring an additional 579,517 shares during the period. Hedge funds and other institutional investors own 89.86% 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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