Allegion plc (NYSE:ALLE – Get Free Report) has earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $121.14.
Several research firms have recently weighed in on ALLE. Vertical Research cut shares of Allegion from a “buy” rating to a “hold” rating and reduced their price target for the company from $128.00 to $100.00 in a report on Thursday, October 19th. Wells Fargo & Company reduced their price target on shares of Allegion from $130.00 to $120.00 in a report on Monday, October 9th. Robert W. Baird increased their target price on shares of Allegion from $126.00 to $132.00 in a report on Thursday, July 27th. Longbow Research cut shares of Allegion from a “buy” rating to a “neutral” rating in a report on Wednesday, September 6th. Finally, StockNews.com started coverage on shares of Allegion in a report on Thursday, October 5th. They set a “hold” rating for the company.
Allegion Stock Down 0.6 %
Allegion (NYSE:ALLE – Get Free Report) last released its quarterly earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.21. The company had revenue of $917.90 million during the quarter, compared to analysts’ expectations of $908.93 million. Allegion had a net margin of 15.41% and a return on equity of 55.71%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 earnings per share. Analysts forecast that Allegion will post 6.85 earnings per share for the current year.
Allegion Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Friday, September 15th. Allegion’s dividend payout ratio is currently 28.53%.
Institutional Trading of Allegion
A number of large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in shares of Allegion by 147.4% in the second quarter. Van ECK Associates Corp now owns 2,305,995 shares of the scientific and technical instruments company’s stock valued at $276,766,000 after purchasing an additional 1,373,811 shares during the period. BlackRock Inc. raised its position in shares of 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 during the period. Boston Partners raised its position in shares of 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 during the period. Norges Bank bought a new position in shares of Allegion in the fourth quarter valued at about $76,640,000. Finally, Hawk Ridge Capital Management LP bought a new position in shares of Allegion in the third quarter valued at about $53,142,000. Institutional investors and hedge funds own 92.21% of the company’s stock.
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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