Zacks Research Analysts Increase Earnings Estimates for Allegion plc (NYSE:ALLE)

Allegion plc (NYSE:ALLE) – Equities research analysts at Zacks Research boosted their Q2 2024 earnings per share estimates for Allegion in a research report issued to clients and investors on Monday, April 15th. Zacks Research analyst R. Department now expects that the scientific and technical instruments company will post earnings of $1.72 per share for the quarter, up from their prior forecast of $1.71. The consensus estimate for Allegion’s current full-year earnings is $7.01 per share. Zacks Research also issued estimates for Allegion’s Q4 2024 earnings at $1.81 EPS.

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

Allegion Stock Performance

Shares of Allegion stock opened at $125.78 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $131.06 and a 200 day simple moving average of $118.65. Allegion has a fifty-two week low of $95.94 and a fifty-two week high of $136.91. The firm has a market cap of $11.01 billion, a P/E ratio of 20.55, a P/E/G ratio of 4.57 and a beta of 1.14.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The firm had revenue of $897.40 million during the quarter, compared to analysts’ expectations of $904.17 million. During the same quarter last year, the company posted $1.60 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.48 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.53%. Allegion’s dividend payout ratio is 31.37%.

Insider Buying and Selling

In other news, VP Timothy P. Eckersley sold 5,047 shares of Allegion stock in a transaction 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 transaction, the vice president now directly owns 35,567 shares of the company’s stock, valued at $4,623,354.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Allegion news, CEO John H. Stone acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average cost of $132.41 per share, for a total transaction of $1,324,100.00. Following the transaction, the chief executive officer now owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy P. Eckersley sold 5,047 shares of the firm’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 owns 35,567 shares in the company, valued at $4,623,354.33. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALLE. Compass Wealth Management LLC acquired a new stake in Allegion in the 4th quarter valued at approximately $25,000. CVA Family Office LLC bought a new stake in Allegion during the 4th quarter worth about $28,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Allegion by 19.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 3,823 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Allegion by 123.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 261 shares of the scientific and technical instruments company’s stock valued at $31,000 after acquiring an additional 144 shares in the last quarter. Finally, Ancora Advisors LLC grew its holdings in shares of Allegion by 153.3% in the 3rd quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 230 shares in the last quarter. Institutional investors and hedge funds 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.