Allegion PLC (NYSE:ALLE) Given Average Recommendation of “Buy” by Analysts
Allegion PLC (NYSE:ALLE) has earned a consensus rating of “Buy” from the eight brokerages that are covering the company. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $74.60.
ALLE has been the subject of several analyst reports. Imperial Capital reissued an “outperform” rating and set a $71.00 target price on shares of Allegion PLC in a research note on Wednesday, June 8th. Goldman Sachs Group Inc. initiated coverage on Allegion PLC in a research note on Friday, June 10th. They set a “buy” rating and a $78.00 target price for the company. Sanford C. Bernstein reissued an “outperform” rating on shares of Allegion PLC in a research note on Monday, June 27th. Zacks Investment Research raised Allegion PLC from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Tuesday, June 28th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Allegion PLC in a research report on Saturday, July 9th.
Allegion PLC (NYSE:ALLE) opened at 68.17 on Thursday. Allegion PLC has a 12 month low of $52.95 and a 12 month high of $73.49. The company’s 50-day moving average price is $69.81 and its 200 day moving average price is $68.12. The stock has a market capitalization of $6.54 billion, a PE ratio of 33.47 and a beta of 1.04.
Allegion PLC (NYSE:ALLE) last released its earnings results on Thursday, July 28th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.09. Allegion PLC had a return on equity of 476.64% and a net margin of 9.06%. The firm earned $584.90 million during the quarter, compared to analysts’ expectations of $574.13 million. During the same period in the previous year, the firm posted $0.71 EPS. Allegion PLC’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts forecast that Allegion PLC will post $3.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.70%. Allegion PLC’s dividend payout ratio (DPR) is presently 23.53%.
In related news, insider Feng William Yu sold 21,535 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 53,539 shares of the company’s stock, valued at approximately $3,897,639.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas P. Ranck sold 9,300 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 11,544 shares of the company’s stock, valued at $841,557.60. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. purchased a new stake in shares of Allegion PLC during the second quarter worth about $4,824,000. Williams Jones & Associates LLC boosted its stake 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 during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Allegion PLC during the second quarter worth about $268,000. Kentucky Retirement Systems purchased a new stake in shares of Allegion PLC during the second quarter worth about $565,000. Finally, Mason Street Advisors LLC purchased a new stake in shares of Allegion PLC during the second quarter worth about $895,000. 90.34% of the stock is owned by hedge funds and other 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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