BidaskClub cut shares of Allegion PLC (NYSE:ALLE) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.
Other analysts have also issued research reports about the stock. Robert W. Baird restated a hold rating on shares of Allegion PLC in a research report on Tuesday, September 26th. Wolfe Research initiated coverage on shares of Allegion PLC in a research report on Tuesday, July 11th. They set a market perform rating on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $89.75.
Shares of Allegion PLC (NYSE:ALLE) remained flat at $87.60 on Wednesday. The company’s stock had a trading volume of 136,319 shares. The company’s 50-day moving average is $84.28 and its 200-day moving average is $80.32. Allegion PLC has a 12 month low of $61.47 and a 12 month high of $89.81. The company has a market cap of $8.32 billion, a PE ratio of 33.89 and a beta of 1.13.
Allegion PLC (NYSE:ALLE) last released its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.11. The company had revenue of $627.00 million for the quarter, compared to analyst estimates of $613.37 million. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $0.99 earnings per share. On average, analysts forecast that Allegion PLC will post $3.79 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were given a $0.16 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.64 annualized dividend and a dividend yield of 0.73%. Allegion PLC’s dividend payout ratio (DPR) is 24.62%.
In other news, insider Timothy P. Eckersley sold 12,782 shares of Allegion PLC stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $81.14, for a total value of $1,037,131.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.64% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Allegion PLC by 1.9% in the second quarter. Vanguard Group Inc. now owns 9,295,692 shares of the scientific and technical instruments company’s stock valued at $754,067,000 after purchasing an additional 175,432 shares during the period. BlackRock Inc. grew its position in shares of Allegion PLC by 14.3% in the second quarter. BlackRock Inc. now owns 5,955,519 shares of the scientific and technical instruments company’s stock valued at $483,111,000 after purchasing an additional 746,516 shares during the period. State Street Corp grew its position in shares of Allegion PLC by 2.9% in the second quarter. State Street Corp now owns 5,207,209 shares of the scientific and technical instruments company’s stock valued at $422,400,000 after purchasing an additional 146,138 shares during the period. American Century Companies Inc. grew its position in shares of Allegion PLC by 0.8% in the second quarter. American Century Companies Inc. now owns 1,901,388 shares of the scientific and technical instruments company’s stock valued at $154,241,000 after purchasing an additional 14,656 shares during the period. Finally, Artisan Partners Limited Partnership grew its position in shares of Allegion PLC by 44.8% in the second quarter. Artisan Partners Limited Partnership now owns 1,873,307 shares of the scientific and technical instruments company’s stock valued at $151,963,000 after purchasing an additional 579,517 shares during the period. Institutional investors and hedge funds own 89.80% of the company’s stock.
About Allegion PLC
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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