Allegion (ALLE) Issues Quarterly Earnings Results

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Allegion (NYSE:ALLE) issued its earnings results on Thursday. The scientific and technical instruments company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01, MarketWatch Earnings reports. Allegion had a return on equity of 77.42% and a net margin of 15.92%. The business had revenue of $655.00 million during the quarter, compared to the consensus estimate of $654.66 million. During the same quarter last year, the company earned $0.80 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. Allegion updated its FY19 guidance to $4.75-4.90 EPS.

Shares of ALLE traded up $1.06 during trading hours on Thursday, reaching $96.56. 1,544,665 shares of the company’s stock traded hands, compared to its average volume of 728,871. The company has a market cap of $8.98 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 2.80 and a beta of 1.18. The company has a current ratio of 1.79, a quick ratio of 1.25 and a debt-to-equity ratio of 2.16. Allegion has a 12 month low of $73.85 and a 12 month high of $97.50.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.12%. Allegion’s dividend payout ratio (DPR) is presently 24.00%.

In other news, VP Chris E. Muhlenkamp sold 12,034 shares of Allegion stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $88.96, for a total transaction of $1,070,544.64. Following the completion of the sale, the vice president now owns 27,289 shares in the company, valued at approximately $2,427,629.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Tracy L. Kemp sold 2,793 shares of Allegion stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $90.53, for a total value of $252,850.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,129 shares of company stock valued at $5,928,592. Corporate insiders own 0.75% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Murphy Pohlad Asset Management LLC bought a new position in Allegion in the 4th quarter worth about $31,000. Ledyard National Bank purchased a new position in Allegion in the 4th quarter worth approximately $53,000. Financial Gravity Wealth Inc. purchased a new position in Allegion in the 1st quarter worth approximately $56,000. Exane Asset Management purchased a new position in Allegion in the 4th quarter worth approximately $78,000. Finally, Enlightenment Research LLC purchased a new position in Allegion in the 4th quarter worth approximately $88,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

ALLE has been the subject of several analyst reports. Zacks Investment Research downgraded Allegion from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. ValuEngine downgraded Allegion from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Morgan Stanley set a $92.00 price target on Allegion and gave the company a “hold” rating in a research report on Wednesday, February 20th. Finally, Goldman Sachs Group downgraded Allegion from a “buy” rating to a “neutral” rating and dropped their price target for the company from $98.00 to $92.00 in a research report on Wednesday, February 20th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $94.40.

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About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile 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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Earnings History for Allegion (NYSE:ALLE)

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