Other equities research analysts also recently issued reports about the company. Goldman Sachs Group Inc. initiated coverage on Allegion PLC in a report on Friday, June 10th. They set a buy rating and a $78.00 price target for the company. Zacks Investment Research raised Allegion PLC from a hold rating to a buy rating and set a $72.00 price target for the company in a report on Tuesday, June 28th. Credit Suisse Group AG reaffirmed a buy rating on shares of Allegion PLC in a report on Saturday, July 9th. Imperial Capital downgraded Allegion PLC from an outperform rating to an in-line rating and increased their price target for the stock from $71.00 to $79.00 in a report on Tuesday, August 2nd. Finally, Sanford C. Bernstein reaffirmed an outperform rating on shares of Allegion PLC in a report on Monday, June 27th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Allegion PLC currently has an average rating of Buy and a consensus price target of $75.00.
Shares of Allegion PLC (NYSE:ALLE) opened at 67.28 on Thursday. The firm’s 50-day moving average is $69.16 and its 200 day moving average is $68.25. Allegion PLC has a 52 week low of $52.95 and a 52 week high of $73.49. The firm has a market cap of $6.45 billion, a PE ratio of 33.03 and a beta of 1.04.
Allegion PLC (NYSE:ALLE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.09. The business earned $584.90 million during the quarter, compared to the consensus estimate of $574.13 million. Allegion PLC had a return on equity of 476.64% and a net margin of 9.06%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 earnings per share. Equities research analysts forecast that Allegion PLC will post $3.39 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, September 13th. Allegion PLC’s dividend payout ratio is currently 23.53%.
In other 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 value of $1,567,748.00. Following the completion of the transaction, the insider now owns 53,539 shares in the company, valued at $3,897,639.20. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 completion of the transaction, the insider now owns 11,544 shares of the company’s stock, valued at approximately $841,557.60. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ALLE. BNP Paribas Arbitrage SA boosted its position in shares of Allegion PLC by 25.7% in the third quarter. BNP Paribas Arbitrage SA now owns 78,460 shares of the company’s stock worth $5,407,000 after buying an additional 16,053 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of Allegion PLC during the second quarter worth $4,824,000. Williams Jones & Associates LLC boosted its position in shares of Allegion PLC by 60.8% in the second quarter. Williams Jones & Associates LLC now owns 834,872 shares of the company’s stock worth $57,965,000 after buying an additional 315,599 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Allegion PLC during the second quarter worth $268,000. Finally, Kentucky Retirement Systems purchased a new position in shares of Allegion PLC during the second quarter worth $565,000. Institutional investors and hedge funds own 90.33% of the company’s stock.
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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