Allegion PLC (NYSE:ALLE) Raises Dividend to $0.55 Per Share

Allegion PLC (NYSE:ALLE) announced a quarterly dividend on Wednesday, February 4th. Investors of record on Friday, March 13th will be given a dividend of 0.55 per share by the scientific and technical instruments company on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, March 13th. This is a 7.8% increase from Allegion’s previous quarterly dividend of $0.51.

Allegion has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Allegion has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Allegion to earn $7.97 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 25.6%.

Allegion Price Performance

NYSE:ALLE opened at $173.32 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.77. The firm has a market cap of $14.91 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 3.06 and a beta of 1.03. Allegion has a 52 week low of $116.57 and a 52 week high of $180.68. The firm’s 50-day simple moving average is $162.84 and its 200 day simple moving average is $167.15.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Berkshire Hathaway Inc purchased a new stake in Allegion in the 2nd quarter worth about $112,433,000. Norges Bank purchased a new stake in shares of Allegion during the second quarter worth $109,862,000. Geode Capital Management LLC raised its stake in shares of Allegion by 15.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock valued at $369,514,000 after purchasing an additional 339,025 shares during the period. Cooke & Bieler LP boosted its stake in Allegion by 118.5% in the 2nd quarter. Cooke & Bieler LP now owns 544,659 shares of the scientific and technical instruments company’s stock worth $78,496,000 after purchasing an additional 295,395 shares during the period. Finally, Nordea Investment Management AB grew its stake in Allegion by 22.5% during the second quarter. Nordea Investment Management AB now owns 1,509,567 shares of the scientific and technical instruments company’s stock valued at $216,095,000 after acquiring an additional 277,241 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

About Allegion

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.