Allegion plc (ALLE) to Issue Quarterly Dividend of $0.51 on March 31st

Allegion plc (NYSE:ALLE) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.51 per share by the scientific and technical instruments company on Monday, March 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, March 14th. This is a positive change from Allegion’s previous quarterly dividend of $0.48.

Allegion has increased its dividend by an average of 10.1% annually over the last three years. Allegion has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Allegion to earn $7.61 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 25.2%.

Allegion Price Performance

NYSE ALLE opened at $128.64 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. Allegion has a 12 month low of $113.27 and a 12 month high of $156.10. The stock has a market cap of $11.18 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 3.28 and a beta of 1.11. The company’s 50 day moving average is $133.40 and its two-hundred day moving average is $137.42.

Insider Buying and Selling at Allegion

In other Allegion news, CEO John H. Stone acquired 7,500 shares of the stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on ALLE. Robert W. Baird raised their price objective on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Thursday. Mizuho increased their target price on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays lowered their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company cut their price objective on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $140.83.

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.