Allegion PLC (NYSE:ALLE) Given Average Recommendation of "Hold" by Analysts

Key Points

• Allegion PLC has received an average recommendation of "Hold" from ten brokerages, with seven analysts giving it this rating and three issuing buy ratings.
• The stock's average twelve-month price target among analysts is $174.25, while recent reports have set targets ranging from $170.00 to $185.00.
• Allegion recently announced a quarterly dividend of $0.51, leading to an annualized dividend of $2.04, which represents a 1.2% dividend yield.

Allegion PLC (NYSE:ALLE - Get Free Report) has received an average recommendation of "Hold" from the ten brokerages that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $174.25.

ALLE has been the topic of several analyst reports. JPMorgan Chase & Co. started coverage on shares of Allegion in a research note on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target on the stock. Zacks Research cut shares of Allegion from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. Morgan Stanley raised their target price on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Barclays raised their target price on shares of Allegion from $163.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 1st. Finally, Bank of America raised shares of Allegion from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $110.00 to $175.00 in a research report on Tuesday, July 29th.

Allegion Price Performance

Allegion stock opened at $173.78 on Tuesday. Allegion has a 12-month low of $116.57 and a 12-month high of $180.34. The stock has a market capitalization of $14.92 billion, a P/E ratio of 24.14, a P/E/G ratio of 3.72 and a beta of 1.07. The firm's 50-day moving average is $172.26 and its two-hundred day moving average is $151.94. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.04. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $999.10 million. During the same period last year, the company earned $1.96 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Equities analysts predict that Allegion will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 1.2%. Allegion's dividend payout ratio (DPR) is currently 28.33%.

Insider Activity at Allegion

In related news, SVP Tracy L. Kemp sold 3,849 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the transaction, the senior vice president owned 8,773 shares in the company, valued at approximately $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy P. Eckersley sold 10,810 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the completion of the transaction, the senior vice president owned 30,023 shares in the company, valued at $4,946,589.48. The trade was a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Allegion by 0.5% in the first quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company's stock valued at $1,404,672,000 after buying an additional 48,615 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Allegion by 22.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company's stock valued at $623,104,000 after buying an additional 878,796 shares during the period. Boston Partners raised its holdings in Allegion by 0.8% in the first quarter. Boston Partners now owns 4,752,391 shares of the scientific and technical instruments company's stock valued at $619,700,000 after buying an additional 35,635 shares during the period. State Street Corp raised its stake in shares of Allegion by 0.8% during the second quarter. State Street Corp now owns 3,971,235 shares of the scientific and technical instruments company's stock valued at $572,336,000 after purchasing an additional 31,322 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Allegion by 15.2% during the second quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company's stock valued at $369,514,000 after purchasing an additional 339,025 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

About Allegion

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.

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