Allegion (NYSE:ALLE) Announces Earnings Results

Allegion (NYSE:ALLE) released its quarterly earnings results on Tuesday. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.07), FiscalAI reports. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Allegion had a return on equity of 40.83% and a net margin of 16.09%.

Allegion Trading Up 0.6%

Shares of Allegion stock opened at $179.34 on Tuesday. The company’s 50-day moving average price is $165.34 and its 200-day moving average price is $168.22. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06. Allegion has a 12-month low of $116.57 and a 12-month high of $183.11. The company has a market cap of $15.43 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 3.28 and a beta of 1.03.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.55 per share. This is a boost from Allegion’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, March 13th. Allegion’s dividend payout ratio (DPR) is currently 27.60%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALLE. Boston Partners raised its position in shares of Allegion by 1.0% in the third quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company’s stock worth $842,026,000 after buying an additional 48,199 shares in the last quarter. State Street Corp raised its holdings in shares of Allegion by 6.6% in the 3rd quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock valued at $750,584,000 after acquiring an additional 260,973 shares in the last quarter. Northern Trust Corp boosted its position in shares of Allegion by 4.5% during the 3rd quarter. Northern Trust Corp now owns 1,210,063 shares of the scientific and technical instruments company’s stock valued at $214,605,000 after acquiring an additional 52,612 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Allegion by 26.7% during the third quarter. Bank of America Corp DE now owns 863,837 shares of the scientific and technical instruments company’s stock worth $153,202,000 after purchasing an additional 181,869 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Allegion by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 757,545 shares of the scientific and technical instruments company’s stock worth $120,616,000 after purchasing an additional 11,191 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALLE has been the subject of a number of recent analyst reports. Wells Fargo & Company restated a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Robert W. Baird upped their price objective on Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Barclays decreased their target price on Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Allegion has an average rating of “Hold” and a consensus target price of $174.25.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.