Allegion plc (NYSE:ALLE - Free Report) - Stock analysts at Zacks Research lifted their Q2 2024 EPS estimates for Allegion in a note issued to investors on Thursday, May 16th. Zacks Research analyst R. Department now forecasts that the scientific and technical instruments company will earn $1.74 per share for the quarter, up from their prior estimate of $1.72. The consensus estimate for Allegion's current full-year earnings is $7.08 per share. Zacks Research also issued estimates for Allegion's Q4 2024 earnings at $1.90 EPS, Q2 2025 earnings at $1.78 EPS, Q3 2025 earnings at $1.87 EPS, Q4 2025 earnings at $1.84 EPS, FY2025 earnings at $7.11 EPS and Q1 2026 earnings at $1.74 EPS.
A number of other equities research analysts have also recently commented on ALLE. Wells Fargo & Company cut shares of Allegion from an "overweight" rating to an "equal weight" rating and increased their price target for the company from $139.00 to $140.00 in a report on Wednesday, February 21st. Barclays lifted their target price on Allegion from $121.00 to $122.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 2nd. UBS Group upped their price target on Allegion from $113.00 to $132.00 and gave the company a "neutral" rating in a report on Tuesday, April 16th. Mizuho downgraded Allegion from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $140.00 to $141.00 in a report on Friday, February 23rd. Finally, StockNews.com upgraded shares of Allegion from a "hold" rating to a "buy" rating in a research note on Wednesday, April 10th. Six investment 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, Allegion currently has an average rating of "Hold" and an average target price of $127.83.
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Allegion Stock Down 0.8 %
Shares of ALLE traded down $0.96 during trading hours on Friday, hitting $124.43. The company had a trading volume of 507,605 shares, compared to its average volume of 695,765. Allegion has a 52-week low of $95.94 and a 52-week high of $136.91. The firm has a fifty day moving average price of $128.79 and a 200-day moving average price of $121.97. The stock has a market capitalization of $10.88 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 4.56 and a beta of 1.14. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.87 and a current ratio of 1.31.
Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.10. Allegion had a return on equity of 48.58% and a net margin of 14.93%. The company had revenue of $893.90 million during the quarter, compared to analyst estimates of $888.27 million. During the same quarter last year, the company earned $1.58 EPS. The firm's revenue for the quarter was down 3.2% on a year-over-year basis.
Hedge Funds Weigh In On Allegion
Several large investors have recently added to or reduced their stakes in ALLE. Nordea Investment Management AB grew its position in shares of Allegion by 1.8% during the fourth quarter. Nordea Investment Management AB now owns 1,310,495 shares of the scientific and technical instruments company's stock worth $165,516,000 after purchasing an additional 23,155 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Allegion by 214.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 242,313 shares of the scientific and technical instruments company's stock worth $30,699,000 after buying an additional 165,165 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Allegion by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 731,311 shares of the scientific and technical instruments company's stock worth $92,650,000 after acquiring an additional 19,284 shares during the last quarter. Van ECK Associates Corp grew its stake in Allegion by 15.9% during 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 acquiring an additional 441,882 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its stake in Allegion by 39.7% during the third quarter. Dark Forest Capital Management LP now owns 33,364 shares of the scientific and technical instruments company's stock valued at $3,477,000 after acquiring an additional 9,476 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.
Insider Activity
In related news, VP Timothy P. Eckersley sold 5,047 shares of the firm'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 value of $656,059.53. Following the transaction, the vice president now 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 accessible through this link. In related news, CEO John H. Stone acquired 10,000 shares of the firm's stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the completion of the purchase, the chief executive officer now directly owns 104,248 shares of the company's stock, valued at $13,803,477.68. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Timothy P. Eckersley sold 5,047 shares of Allegion stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the transaction, the vice president now directly owns 35,567 shares in the company, valued at $4,623,354.33. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.
Allegion Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.54%. Allegion's dividend payout ratio is currently 31.32%.
About Allegion
(
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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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