According to Zacks, “Allegion has reported impressive first half 2016 results buoyed by higher earnings, margins and revenues owing to the synergies from acquisitions and organic growth. All the regions reported strong profits, barring Asia Pacific, driven by a stable market, investment in new products and channel strategies. The company primarily relies on the commercial and residential construction and remodeling space which have been picking up momentum of late, especially in the U.S. Also, the estimates have been stable in the last 30 days ahead of its third quarter 2016 earnings release. That said, earnings are expected to be under pressure in the second half of 2016 due to inflation, second half weighted investments and a higher-than-expected tax rate.”
A number of other equities analysts have also commented on ALLE. Imperial Capital lowered Allegion PLC from an outperform rating to an in-line rating and raised their price objective for the stock from $71.00 to $79.00 in a research note on Tuesday, August 2nd. Credit Suisse Group AG restated a buy rating on shares of Allegion PLC in a research note on Saturday, July 9th. Goldman Sachs Group Inc. started coverage on Allegion PLC in a research note on Friday, June 10th. They set a buy rating and a $78.00 price objective on the stock. Finally, Sanford C. Bernstein restated an outperform rating on shares of Allegion PLC in a research note on Monday, June 27th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $75.00.
Shares of Allegion PLC (NYSE:ALLE) opened at 66.88 on Tuesday. The stock’s 50 day moving average price is $69.27 and its 200-day moving average price is $68.16. The company has a market cap of $6.41 billion, a P/E ratio of 32.83 and a beta of 1.04. Allegion PLC has a 52-week low of $52.95 and a 52-week high of $73.49.
Allegion PLC (NYSE:ALLE) last announced its earnings results on Thursday, July 28th. The company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.09. The company had revenue of $584.90 million for the quarter, compared to analyst estimates of $574.13 million. Allegion PLC had a return on equity of 476.64% and a net margin of 9.06%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share. Equities analysts expect that Allegion PLC will post $3.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Tuesday, September 13th. Allegion PLC’s dividend payout ratio is presently 23.53%.
In related news, insider Feng William Yu sold 21,535 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $72.80, for a total transaction of $1,567,748.00. Following the sale, the insider now owns 53,539 shares of the company’s stock, valued at approximately $3,897,639.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas P. Ranck sold 9,300 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $72.90, for a total value of $677,970.00. Following the sale, the insider now directly owns 11,544 shares in the company, valued at approximately $841,557.60. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in ALLE. Northwestern Mutual Wealth Management Co. increased its stake in Allegion PLC by 3.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,791 shares of the company’s stock valued at $125,000 after buying an additional 63 shares during the period. Westend Capital Management LLC purchased a new stake in Allegion PLC during the first quarter valued at $151,000. Cortina Asset Management LLC purchased a new stake in Allegion PLC during the second quarter valued at $201,000. Birch Hill Investment Advisors LLC purchased a new stake in Allegion PLC during the second quarter valued at $217,000. Finally, Societe Generale purchased a new stake in Allegion PLC during the second quarter valued at $221,000. 90.34% of the stock is currently owned by institutional investors.
Allegion PLC Company Profile
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. It operates through three segments: Americas; Europe, the Middle East, India and Africa (EMEIA), and Asia Pacific. The Company’s products include door closers and controls, electronic security products, exit devices, time, attendance and workforce productivity systems, door and door frames (steel), electronic and biometric access control systems, locks, locksets and key systems, and other accessories.
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