Allegion plc Expected to Earn Q1 2024 Earnings of $1.58 Per Share (NYSE:ALLE)

Allegion plc (NYSE:ALLE) – Research analysts at Zacks Research decreased their Q1 2024 EPS estimates for shares of Allegion in a research report issued on Monday, April 15th. Zacks Research analyst R. Department now expects that the scientific and technical instruments company will post earnings per share of $1.58 for the quarter, down from their previous estimate of $1.59. The consensus estimate for Allegion’s current full-year earnings is $7.01 per share. Zacks Research also issued estimates for Allegion’s Q2 2025 earnings at $1.76 EPS, Q3 2025 earnings at $1.86 EPS, Q4 2025 earnings at $1.79 EPS and FY2025 earnings at $7.02 EPS.

Other research analysts have also recently issued reports about the stock. Mizuho cut shares of Allegion from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $140.00 to $141.00 in a report on Friday, February 23rd. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company lowered Allegion from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $139.00 to $140.00 in a report on Wednesday, February 21st. UBS Group boosted their price objective on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Barclays raised their target price on Allegion from $121.00 to $122.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $127.83.

Allegion Stock Performance

NYSE ALLE opened at $125.78 on Wednesday. The company has a fifty day moving average price of $131.06 and a 200-day moving average price of $118.65. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 4.57 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85. Allegion has a 1 year low of $95.94 and a 1 year high of $136.91.

Allegion (NYSE:ALLE) last announced its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $897.40 million for the quarter, compared to analysts’ expectations of $904.17 million. Allegion had a return on equity of 51.95% and a net margin of 14.80%. Allegion’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 earnings per share.

Institutional Investors Weigh In On Allegion

A number of hedge funds and other institutional investors have recently bought and sold shares of ALLE. Raymond James Financial Services Advisors Inc. grew its position in shares of Allegion by 27.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,068 shares of the scientific and technical instruments company’s stock valued at $996,000 after purchasing an additional 1,944 shares in the last quarter. American Century Companies Inc. grew its holdings in Allegion by 11.8% during the 1st quarter. American Century Companies Inc. now owns 5,825 shares of the scientific and technical instruments company’s stock valued at $639,000 after buying an additional 614 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Allegion by 7.9% during the first quarter. HighTower Advisors LLC now owns 6,947 shares of the scientific and technical instruments company’s stock valued at $759,000 after buying an additional 510 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Allegion by 35.2% in the first quarter. Private Advisor Group LLC now owns 2,090 shares of the scientific and technical instruments company’s stock worth $229,000 after buying an additional 544 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Allegion by 88.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,336 shares of the scientific and technical instruments company’s stock valued at $366,000 after acquiring an additional 1,564 shares during the period. Institutional investors own 92.21% of the company’s stock.

Insiders Place Their Bets

In other Allegion news, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $129.99, for a total value of $656,059.53. Following the sale, the vice president now directly owns 35,567 shares in the company, valued at $4,623,354.33. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Robert C. Martens sold 5,391 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total value of $716,140.44. Following the sale, the senior vice president now owns 7,555 shares of the company’s stock, valued at $1,003,606.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Timothy P. Eckersley sold 5,047 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $129.99, for a total transaction of $656,059.53. Following the sale, the vice president now owns 35,567 shares in the company, valued at $4,623,354.33. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.53%. The ex-dividend date is Thursday, June 13th. Allegion’s dividend payout ratio (DPR) is 31.37%.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.