Allegion PLC (NYSE:ALLE) Declares $0.55 Quarterly Dividend

Key Points

• Allegion declared a quarterly dividend of $0.55 per share, payable September 30 to shareholders of record on September 15. The dividend implies a $2.20 annualized payout and a 1.4% yield.
• The company has raised its dividend for 11 consecutive years, with a 26.2% payout ratio. Analysts expect the dividend to remain well covered, with a projected future payout ratio of 22.9%.
• Allegion recently exceeded quarterly earnings and revenue expectations, reporting $2.40 in EPS and $1.15 billion in revenue. Despite generally positive analyst targets, the stock carries a consensus “Hold” rating and a $164.75 price target.

Allegion PLC (NYSE:ALLE - Get Free Report) declared a quarterly dividend on Wednesday, September 2nd. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.55 per share by the scientific and technical instruments company on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th.

Allegion has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Allegion has a dividend payout ratio of 26.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Allegion to earn $9.62 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 22.9%.

Allegion Stock Performance

Shares of Allegion stock opened at $155.48 on Thursday. The stock's 50-day moving average is $152.08 and its 200-day moving average is $145.56. Allegion has a one year low of $125.00 and a one year high of $183.11. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.93 and a quick ratio of 1.23. The firm has a market cap of $13.22 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 3.09 and a beta of 0.83.

Allegion (NYSE:ALLE - Get Free Report) last issued its earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.22 by $0.18. Allegion had a return on equity of 35.41% and a net margin of 15.36%.The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the company posted $2.04 EPS. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. Equities analysts predict that Allegion will post 8.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Weiss Ratings upgraded Allegion from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 4th. Longbow Research raised Allegion from a "neutral" rating to a "buy" rating and set a $165.00 price objective for the company in a research report on Thursday, June 11th. Robert W. Baird set a $170.00 price target on Allegion in a research note on Friday, July 24th. Morgan Stanley lowered their price objective on Allegion from $165.00 to $142.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. increased their price target on Allegion from $150.00 to $170.00 and gave the company a "neutral" rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Allegion presently has an average rating of "Hold" and a consensus price target of $164.75.

About Allegion

Allegion plc NYSE: ALLE is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion's core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company's product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.

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