Shares of Allegion plc (NYSE:ALLE – Get Rating) have been given a consensus rating of "Hold" by the twelve research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $122.00.
A number of equities analysts have recently issued reports on ALLE shares. Wells Fargo & Company dropped their price target on Allegion from $115.00 to $114.00 and set an "overweight" rating on the stock in a research note on Monday, August 1st. Morgan Stanley raised their price target on Allegion from $115.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Friday, July 29th. Mizuho dropped their price target on Allegion from $125.00 to $114.00 and set a "buy" rating on the stock in a research note on Wednesday. Robert W. Baird dropped their price target on Allegion from $120.00 to $116.00 and set a "neutral" rating on the stock in a research note on Monday, July 18th. Finally, Bank of America downgraded Allegion from a "buy" rating to an "underperform" rating and dropped their price target for the stock from $130.00 to $110.00 in a research note on Monday, July 11th.
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Hedge Funds Weigh In On Allegion
Several large investors have recently made changes to their positions in the business. State Street Corp lifted its position in shares of Allegion by 7.6% in the fourth quarter. State Street Corp now owns 4,644,285 shares of the scientific and technical instruments company's stock valued at $615,089,000 after acquiring an additional 327,677 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Allegion by 0.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,007,238 shares of the scientific and technical instruments company's stock valued at $294,409,000 after acquiring an additional 11,660 shares in the last quarter. Boston Partners lifted its position in shares of Allegion by 178.8% in the first quarter. Boston Partners now owns 2,720,389 shares of the scientific and technical instruments company's stock valued at $298,583,000 after acquiring an additional 1,744,674 shares in the last quarter. AKO Capital LLP lifted its position in shares of Allegion by 37.7% in the second quarter. AKO Capital LLP now owns 2,469,441 shares of the scientific and technical instruments company's stock valued at $241,758,000 after acquiring an additional 676,606 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Allegion by 1.4% in the second quarter. Brown Advisory Inc. now owns 1,707,126 shares of the scientific and technical instruments company's stock valued at $167,127,000 after acquiring an additional 23,627 shares in the last quarter. 91.06% of the stock is currently owned by hedge funds and other institutional investors.
Allegion Stock Up 0.0 %
Allegion stock opened at $91.13 on Thursday. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.12 and a beta of 1.06. The stock has a fifty day simple moving average of $100.18 and a two-hundred day simple moving average of $105.77. Allegion has a 12 month low of $89.01 and a 12 month high of $139.55. The company has a current ratio of 2.87, a quick ratio of 2.17 and a debt-to-equity ratio of 2.59.
Allegion (NYSE:ALLE – Get Rating) last posted its earnings results on Thursday, July 28th. The scientific and technical instruments company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.04. The business had revenue of $773.10 million during the quarter, compared to analyst estimates of $771.68 million. Allegion had a return on equity of 57.91% and a net margin of 15.89%. The company's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.32 EPS. Equities analysts predict that Allegion will post 5.4 EPS for the current fiscal year.
Allegion Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.64 annualized dividend and a yield of 1.80%. Allegion's dividend payout ratio (DPR) is presently 31.54%.
Allegion Company Profile
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Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, 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 and door systems; and other accessories.
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