Allegion plc to Post Q1 2024 Earnings of $1.58 Per Share, Zacks Research Forecasts (NYSE:ALLE)

Allegion plc (NYSE:ALLE - Free Report) - Equities research analysts at Zacks Research reduced their Q1 2024 EPS estimates for shares of Allegion in a research note issued to investors on Monday, April 15th. Zacks Research analyst R. Department now expects that the scientific and technical instruments company will post earnings of $1.58 per share 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.

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

ALLE has been the topic of a number of other reports. Barclays boosted their price target on shares of Allegion from $121.00 to $122.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 2nd. StockNews.com upgraded shares of Allegion from a "hold" rating to a "buy" rating in a research report on Wednesday, April 10th. Mizuho lowered shares of Allegion from a "buy" rating to a "neutral" rating and boosted their price target for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Wells Fargo & Company lowered shares of Allegion from an "overweight" rating to an "equal weight" rating and boosted their price target for the company from $139.00 to $140.00 in a research report on Wednesday, February 21st. Finally, UBS Group boosted their price target on shares of Allegion from $113.00 to $132.00 and gave the company a "neutral" rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $127.83.

Allegion Price Performance

NYSE ALLE traded down $0.60 on Wednesday, reaching $125.78. The company's stock had a trading volume of 566,284 shares, compared to its average volume of 721,601. The firm has a market cap of $11.01 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 4.57 and a beta of 1.14. The business has a 50-day moving average price of $131.06 and a 200 day moving average price of $118.65. Allegion has a 52 week low of $95.94 and a 52 week high of $136.91. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 1.22.

Institutional Investors Weigh In On Allegion

Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Allegion by 15.8% in the first quarter. BlackRock Inc. now owns 8,631,077 shares of the scientific and technical instruments company's stock valued at $921,195,000 after purchasing an additional 1,176,087 shares in the last quarter. Boston Partners increased its stake in Allegion by 17.2% in the third quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company's stock valued at $584,157,000 after purchasing an additional 825,048 shares in the last quarter. State Street Corp increased its stake in Allegion by 4.8% in the second quarter. State Street Corp now owns 3,871,806 shares of the scientific and technical instruments company's stock valued at $464,694,000 after purchasing an additional 176,973 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Allegion by 3.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,218,915 shares of the scientific and technical instruments company's stock valued at $335,411,000 after purchasing an additional 119,954 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Allegion by 15.9% in the fourth quarter. Van ECK Associates Corp now owns 3,215,649 shares of the scientific and technical instruments company's stock valued at $407,391,000 after purchasing an additional 441,882 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Insider Transactions at Allegion

In related news, VP Timothy P. Eckersley sold 5,047 shares of the business'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 completion of the sale, the vice president now directly owns 35,567 shares of the company's stock, valued at $4,623,354.33. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related 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 transaction of $716,140.44. Following the completion of the sale, the senior vice president now directly 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 available at this link. Also, VP Timothy P. Eckersley sold 5,047 shares of the business's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $129.99, for a total transaction of $656,059.53. Following the sale, the vice president now directly owns 35,567 shares of the company's stock, valued at $4,623,354.33. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.53%. Allegion's payout ratio 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.