Allegion PLC (NYSE:ALLE) to Issue $0.27 Quarterly Dividend

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Allegion PLC (NYSE:ALLE) declared a quarterly dividend on Thursday, September 5th, Fidelity reports. Investors of record on Monday, September 16th will be given a dividend of 0.27 per share by the scientific and technical instruments company on Monday, September 30th. This represents a $1.08 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, September 13th.

Allegion has increased its dividend by an average of 28.1% per year over the last three years and has raised its dividend every year for the last 3 years. Allegion has a payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Allegion to earn $5.30 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 20.4%.

NYSE ALLE traded down $1.06 on Thursday, reaching $98.87. The stock had a trading volume of 54,556 shares, compared to its average volume of 734,922. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.79 and a beta of 1.19. The company has a quick ratio of 1.12, a current ratio of 1.71 and a debt-to-equity ratio of 2.10. Allegion has a 12-month low of $74.83 and a 12-month high of $111.99. The stock has a fifty day moving average price of $98.46 and a two-hundred day moving average price of $98.73.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, July 25th. The scientific and technical instruments company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.05). The firm had revenue of $731.20 million during the quarter, compared to analysts’ expectations of $750.76 million. Allegion had a net margin of 15.65% and a return on equity of 68.47%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 EPS. Sell-side analysts forecast that Allegion will post 4.84 earnings per share for the current fiscal year.

A number of analysts have issued reports on ALLE shares. Credit Suisse Group lowered Allegion from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $108.00 to $112.00 in a research report on Monday, July 8th. They noted that the move was a valuation call. Imperial Capital boosted their target price on Allegion from $102.00 to $105.00 and gave the company an “in-line” rating in a research report on Tuesday, July 30th. Wells Fargo & Co boosted their target price on Allegion from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Bank of America boosted their target price on Allegion from $114.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, ValuEngine lowered Allegion from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $105.88.

Allegion Company Profile

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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Dividend History for Allegion (NYSE:ALLE)

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