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

Allegion plc (NYSE:ALLE) announced a quarterly dividend on Thursday, December 5th,RTT News reports. Stockholders of record on Tuesday, December 17th will be given a dividend of 0.48 per share by the scientific and technical instruments company on Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Tuesday, December 17th.

Allegion has raised its dividend by an average of 12.0% per year over the last three years. Allegion has a dividend payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Allegion to earn $7.60 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 25.3%.

Allegion Stock Performance

Shares of Allegion stock opened at $138.83 on Friday. The business’s 50 day moving average price is $143.03 and its 200 day moving average price is $134.04. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 3.35 and a beta of 1.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion has a one year low of $112.26 and a one year high of $156.10.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same quarter in the previous year, the firm earned $1.94 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts predict that Allegion will post 7.41 EPS for the current year.

Insider Activity at Allegion

In other news, CEO John H. Stone bought 7,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the sale, the senior vice president now owns 7,104 shares in the company, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on ALLE. Barclays boosted their target price on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Wells Fargo & Company increased their price objective on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Mizuho lifted their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird increased their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Allegion presently has an average rating of “Hold” and a consensus price target of $144.60.

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.