Allegion plc Announces Quarterly Dividend of $0.48 (NYSE:ALLE)

Allegion plc (NYSE:ALLE - Get Free Report) declared a quarterly dividend on Thursday, April 11th, RTT News reports. Investors of record on Friday, June 14th will be given a dividend of 0.48 per share by the scientific and technical instruments company on Friday, June 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.48%.

Allegion has raised its dividend payment by an average of 12.0% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Allegion has a dividend payout ratio of 25.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Allegion to earn $7.15 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 26.9%.

Allegion Stock Up 0.5 %

ALLE stock traded up $0.62 during trading on Thursday, reaching $129.75. The stock had a trading volume of 459,404 shares, compared to its average volume of 731,870. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 4.79 and a beta of 1.14. Allegion has a one year low of $95.94 and a one year high of $136.91. The company's 50 day moving average is $130.98 and its two-hundred day moving average is $117.87.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 EPS for the quarter, beating analysts' consensus estimates of $1.59 by $0.09. The company had revenue of $897.40 million during the quarter, compared to the consensus estimate of $904.17 million. Allegion had a return on equity of 51.95% and a net margin of 14.80%. Allegion's revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $1.60 earnings per share. Equities research analysts forecast that Allegion will post 7.01 EPS for the current year.

Analysts Set New Price Targets

ALLE has been the topic of several research analyst reports. Barclays upped their price objective on Allegion from $121.00 to $122.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 2nd. StockNews.com upgraded Allegion from a "hold" rating to a "buy" rating in a research note on Wednesday. Mizuho lowered shares of Allegion from a "buy" rating to a "neutral" rating and increased their target price for the stock from $140.00 to $141.00 in a research report on Friday, February 23rd. Finally, 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. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $125.67.

Insider Buying and Selling

In other news, VP Timothy P. Eckersley sold 5,047 shares of the company's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $129.99, for a total value of $656,059.53. Following the completion of the transaction, the vice president now directly owns 35,567 shares in the company, valued at approximately $4,623,354.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 value of $656,059.53. Following the completion of the sale, the vice president now directly owns 35,567 shares in the company, valued at approximately $4,623,354.33. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robert C. Martens sold 5,391 shares of the company's stock in a transaction 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 approximately $1,003,606.20. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Institutional Trading of Allegion

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Allegion by 15.8% during the first quarter. BlackRock Inc. now owns 8,631,077 shares of the scientific and technical instruments company's stock worth $921,195,000 after purchasing an additional 1,176,087 shares during the period. State Street Corp grew its position in shares of Allegion by 4.8% in the 2nd quarter. State Street Corp now owns 3,871,806 shares of the scientific and technical instruments company's stock worth $464,694,000 after buying an additional 176,973 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Allegion by 1.6% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,018,439 shares of the scientific and technical instruments company's stock valued at $322,158,000 after buying an additional 48,002 shares during the period. Geode Capital Management LLC raised its holdings in shares of Allegion by 2.5% during the first quarter. Geode Capital Management LLC now owns 1,874,189 shares of the scientific and technical instruments company's stock valued at $199,582,000 after acquiring an additional 45,157 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Allegion by 2.5% in the first quarter. Deutsche Bank AG now owns 1,493,904 shares of the scientific and technical instruments company's stock worth $159,444,000 after acquiring an additional 36,988 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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