BidaskClub downgraded shares of Allegion PLC (NYSE:ALLE) from a strong-buy rating to a buy rating in a report published on Wednesday.
A number of other equities research analysts have also recently issued reports 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 note on Thursday, August 24th. Wolfe Research assumed coverage on shares of Allegion PLC in a research note on Tuesday, July 11th. They issued a market perform rating on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $89.75.
Shares of Allegion PLC (NYSE ALLE) opened at 88.02 on Wednesday. The company’s 50-day moving average is $84.82 and its 200-day moving average is $80.46. Allegion PLC has a 1-year low of $61.47 and a 1-year high of $89.81. The stock has a market cap of $8.36 billion, a P/E ratio of 34.05 and a beta of 1.13.
Allegion PLC (NYSE:ALLE) last released its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The firm had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $613.37 million. During the same quarter last year, the company earned $0.99 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts expect that Allegion PLC will post $3.79 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.64 dividend on an annualized basis and a yield of 0.73%. Allegion PLC’s dividend payout ratio (DPR) 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 transaction of $1,037,131.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.64% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. QS Investors LLC increased its stake in Allegion PLC by 1.2% during the second quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock worth $106,000 after purchasing an additional 16 shares during the period. CIBC Asset Management Inc increased its stake in Allegion PLC by 0.5% during the second quarter. CIBC Asset Management Inc now owns 6,062 shares of the scientific and technical instruments company’s stock worth $492,000 after purchasing an additional 28 shares during the period. Oppenheimer & Co. Inc. increased its stake in Allegion PLC by 1.0% during the second quarter. Oppenheimer & Co. Inc. now owns 8,979 shares of the scientific and technical instruments company’s stock worth $729,000 after purchasing an additional 88 shares during the period. Wilen Investment Management CORP. increased its stake in Allegion PLC by 1.6% during the second quarter. Wilen Investment Management CORP. now owns 6,420 shares of the scientific and technical instruments company’s stock worth $517,000 after purchasing an additional 100 shares during the period. Finally, Thrivent Financial For Lutherans increased its stake in Allegion PLC by 3.4% during the second quarter. Thrivent Financial For Lutherans now owns 3,621 shares of the scientific and technical instruments company’s stock worth $294,000 after purchasing an additional 120 shares during the period. Institutional investors own 89.80% of the company’s stock.
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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